Montage Technology weakness a buying opportunity, says Chardan Chardan said Montage Technology is being pressured by the expiration of the IPO lock up today and a negative article questioning the business. The firm said the article does not address anything new and that the internal audit is likely close to completion. The firm said business is on track to meet or beat Q1 expectations and the weakness provides a buying opportunity. Shares are Buy rated with a $26 price target.
Montage 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.