Montage Technology Group Receives Consensus Recommendation of “Hold” from Analysts (NASDAQ:MONT)
Shares of Montage Technology Group (NASDAQ:MONT) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Stock Ratings Network reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.36.
Montage Technology Group (NASDAQ:MONT) traded up 0.28% during mid-day trading on Tuesday, hitting $21.54. The stock had a trading volume of 24,465 shares. Montage Technology Group has a one year low of $10.00 and a one year high of $26.70. The stock has a 50-day moving average of $21.41 and a 200-day moving average of $19.99. The company has a market cap of $586.0 million and a price-to-earnings ratio of 19.96.
Montage Technology Group (NASDAQ:MONT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 59.7% 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.
MONT has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Montage Technology Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. They now have a $23.40 price target on the stock. Separately, 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. Finally, 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.
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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