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Montage Technology Group (NASDAQ:MONT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday. The firm currently has a $23.40 target price on the stock. Zacks‘s price objective indicates a potential upside of 9.35% from the stock’s previous close.

A number of other analysts have also recently weighed in on MONT. Analysts at Deutsche Bank downgraded shares of Montage Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 7th. They now have a $22.60 price target on the stock. Separately, 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 assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.36.

Montage Technology Group (NASDAQ:MONT) traded down 0.09% on Tuesday, hitting $21.38. 212,162 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’s 50-day moving average is $21.22 and its 200-day moving average is $19.88. The company has a market cap of $581.6 million and a price-to-earnings ratio of 19.89.

Montage Technology Group (NASDAQ:MONT) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.07. 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. On average, analysts predict that Montage Technology Group will post $1.62 earnings per share for the current fiscal year.

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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