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March 10, 2014
11:22 EDTMONT, RDAMontage surges after state-owned company offers $21.50 per share buyout
Shares of Montage Technology (MONT), which makes semiconductors used in home entertainment and cloud computing, are surging after the company received a $21.50 per share non-binding acquisition proposal from Shanghai Pudong Science and Technology. WHAT'S NEW: Montage Technology announced that its board has received a preliminary non-binding proposal letter, dated March 10, from Shanghai Pudong Science and Technology, a wholly state-owned limited liability company in China. According to the proposal letter, PDSTI proposed to acquire all of Montage's outstanding ordinary shares at a price of $21.50 in cash per ordinary share. The board is reviewing and evaluating PDSTI's proposal and no decision has been made with respect to Montage's response, the company stated. WHAT'S NOTABLE: On February 20, Bloomberg reported that Tsinghua Unigroup or Pudong Science could target Montage, citing dealReporter. The financial news service also said Tsinghua's deal to buy another semiconductor maker, RDA Microelectronics (RDA), could still need Chinese regulatory approval, according to Bloomberg's report. On February 6, Montage Technology sank after Gravity Research initiated the stock with a Strong Sell rating in a report posted on its website. Gravity said it did not believe Montage's claimed revenue was real. In response to allegations in the Gravity report, the company stated that, "As evident in Montage's filings with the SEC revenue from sales through distributors is recognized on a 'sell-through' basis, meaning revenue is recognized when delivery is made to Montage's more than 160 end customers worldwide. However, Gravity Research's report ignores this fact and appears to attempt to mislead the reader to incorrectly believe that Montage has a 'sell-in' sales model, in which revenue is recognized when sold to the distributor, rather than when actually distributed to an end-customer." PRICE ACTION: During mid-morning trading, Montage Technology climbed over 21% to $20.80.
News For MONT;RDA From The Last 14 Days
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October 23, 2014
09:13 EDTMONTMontage Technology receives NASDAQ extended stay
Montage Technology announced that on October 21, the company received a letter from The NASDAQ Stock Market indicating that, pursuant to a request submitted by the company on October 8, the Nasdaq Hearings Panel has granted the company's request to extend the automatic 15-day stay of suspension of trading in the company's ordinary shares pending the hearing on the merits of the company's appeal scheduled for November 6 and a final determination regarding the company's listing status thereafter. The company plans to provide an update regarding its continued listing on NASDAQ once a decision has been issued by the Panel.
October 15, 2014
07:42 EDTMONTMontage Technology reports preliminary Q3 revenue $46M, consensus $43.1M
Montage Technology Group announced preliminary revenue results for Q3 of approximately $46M, exceeding its previously announced guidance range of $41M-$45M. The increased revenue expectations reflect higher sales of its memory interface solutions, which are expected to be approximately $14M or 30% of revenue for Q3, primarily due to increased demand for its DDR4 RDIMM and LRDIMM solutions.

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