Montage Technology rises after pricing IPO below range

After pricing its 7.1M-share IPO at $10, below a prior range of $12-$14, Montage Technology (MONT) opened at $10.10, but has since rallied to $12.69, good for a 26.9% gain. The analog/mixed-signal chipmaker currently has a market cap of $342M, or 4.4x 2012 sales.

Montage, whose chips are used in set-top boxes and server DRAM modules, had 1H revenue of $45.4M (+34% Y/Y), and net income of $1.6M. Set-top chip rivals include STMicroelectronics and RDA Microelectronics, and server chip rivals include Texas Instruments and IDT.

S-1, IPO preview

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Comments (1)
  • Philip Marlowe
    , contributor
    Comments (1582) | Send Message
    I don't get it. RDA sells at 1.5x sales and has much lower P/E.
    26 Sep 2013, 01:18 PM Reply Like
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