MONTAGE TECH's stock price soared 5.08% during intraday trading on Tuesday.
The surge follows a show of support from multiple foreign investment banks. CLSA, Goldman Sachs, JP Morgan, UBS, and Citi have maintained their positive ratings and target prices for the stock, viewing concerns related to a Korean antitrust investigation as a short-term sentiment issue with low substantive risk.
Furthermore, the company recently disclosed expectations for strong first-half results, with net profit projected to grow between 63.9% and 81.2% year-over-year. This growth is attributed to higher revenue scale, margin expansion, and increased shipments of its DDR5 RCD chips. Additionally, confidence was bolstered by Chairman Yang Chonghe's proposal for a significant A-share buyback program worth 300 to 600 million yuan.