Montage Technology Group (MONT) Releases Quarterly Earnings, Misses Estimates By $0.07 EPS
Montage Technology Group (NASDAQ:MONT) released its earnings data on Thursday. The company reported $0.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.07, Stock Ratings Network.com reports. The company had revenue of $40.40 million for the quarter, compared to the consensus estimate of $38.02 million. Montage Technology Group’s revenue was up 59.7% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Montage Technology Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $23.40 price target on the stock. On the ratings front, 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Montage Technology Group presently has an average rating of “Hold” and a consensus target price of $20.44.
Shares of Montage Technology Group (NASDAQ:MONT) traded down 0.19% on Thursday, hitting $21.54. 172,762 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 $21.16 and a 200-day moving average of $19.94. The company has a market cap of $576.6 million and a P/E ratio of 19.64.
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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