Movement Alert｜MONTAGE TECH falls 3.16% in Regular Trading, post-earnings profit taking and semiconductor weakness weigh on shares

Market Focus10-30

On October 30, MONTAGE TECH fell 3.16% in Regular Trading, trading at HK$207.8, with turnover of HK$206 million.

The move came after the company reported strong third-quarter results but shares were pressured as the semiconductor sector turned weaker and short-term funds rotated after earnings were released.

MONTAGE TECH reported third-quarter revenue of 2.08 billion yuan, up 46% year over year, and attributable net profit of 1.24 billion yuan, up 162%. For the first nine months, revenue reached 5.414 billion yuan, up 33.44%, while net profit rose 98.32% to 3.237 billion yuan. The company also said it expects fourth-quarter deliverable interconnect chip orders on hand of 2.5 billion yuan to 2.79 billion yuan. Even so, sector peers were broadly weak, with SMIC down 5.07%, HUA HONG GRACE down 5.34%, BIREN TECH down 3.8%, and GIGADEVICE down 3.91%, adding pressure to the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment