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Montage Technology Group (NASDAQ:MONT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They currently have a $23.40 price objective on the stock. Zacks‘s price objective indicates a potential upside of 10.48% from the stock’s previous close.

Shares of Montage Technology Group (NASDAQ:MONT) traded down 0.66% during mid-day trading on Tuesday, hitting $21.0401. The stock had a trading volume of 337,417 shares. Montage Technology Group has a 1-year low of $10.00 and a 1-year high of $26.70. The stock has a 50-day moving average of $20.01 and a 200-day moving average of $19.65. The company has a market cap of $563.2 million and a P/E ratio of 19.27.

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 $1.62 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in 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, June 11th. 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, June 11th. 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, June 11th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.44.

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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