Montage Technology Group Given Average Rating of “Hold” by Brokerages (NASDAQ:MONT)
Montage Technology Group (NASDAQ:MONT) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Analyst Ratings News reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.22.
Shares of Montage Technology Group (NASDAQ:MONT) traded down 1.54% on Thursday, hitting $21.16. 650,621 shares of the company’s stock traded hands. 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 $19.69 and a 200-day moving average of $19.21. The company has a market cap of $566.4 million and a P/E ratio of 19.55. Montage Technology Group also was the target of a large growth in short interest in 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. Currently, 7.5% of the company’s stock are sold short. Based on an average daily trading volume, of 635,475 shares, the short-interest ratio is presently 2.7 days.
Montage Technology Group (NASDAQ:MONT) last released its earnings data on Tuesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ 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. Montage Technology Group’s revenue was up 77.1% compared to the same quarter last year. Analysts expect that Montage Technology Group will post $1.63 EPS for the current fiscal year.
A number of research firms have recently commented on MONT. Analysts at Needham & Company LLC downgraded shares of Montage Technology Group from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $19.78 price target on the stock. Separately, analysts at Wells Fargo & Co. downgraded shares of Montage Technology Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, analysts at Chardan Capital downgraded shares of Montage Technology Group from a “buy” rating to a “neutral” rating in a research note on Wednesday.
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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