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Montage Technology Group (NASDAQ:MONT) was downgraded by Chardan Capital from a “buy” rating to a “neutral” rating in a research note issued on Wednesday.

Shares of Montage Technology Group (NASDAQ:MONT) opened at 21.70 on Wednesday. Montage Technology Group has a 52-week low of $10.00 and a 52-week high of $26.70. The stock has a 50-day moving average of $19.65 and a 200-day moving average of $19.19. The company has a market cap of $580.8 million and a price-to-earnings ratio of 18.00. Montage Technology Group also saw a large growth in short interest in the month of May. As of May 30th, there was short interest totalling 1,686,008 shares, a growth of 24.6% from the May 15th total of 1,353,189 shares. Based on an average trading volume of 635,475 shares, the days-to-cover ratio is currently 2.7 days. Approximately 7.5% of the shares of the company are sold short.

Montage Technology Group (NASDAQ:MONT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.01. The company had revenue of $35.60 million for the quarter, compared to the consensus estimate of $35.42 million. The company’s quarterly revenue was up 77.1% on a year-over-year basis. On average, analysts predict that Montage Technology Group will post $1.63 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company LLC raised their price target on shares of Montage Technology Group from $26.00 to $28.50 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Analysts at Zacks upgraded shares of Montage Technology Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 3rd. They now have a $22.30 price target on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Montage Technology Group presently has a consensus rating of “Buy” and a consensus target price of $21.96.

Montage Technology Group Limited is a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets.

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