Want to see HK:6809 full AI Analyst Report?
Top Page
Montage Technology Co., Ltd. Class H
(6809)
Select Model
Select Model
Rating:63Neutral
Price Target:
HK$279.00
▲(33.24% Upside)
Action:Downgraded
Date:09/06/26
The score is supported by very strong financial performance (high margins and an exceptionally conservative balance sheet). This is offset by weak technical momentum (trading below key moving averages with negative MACD) and an expensive valuation (very high P/E with a low dividend yield).
Positive Factors
Strong Profitability
Exceptionally high gross and net margins indicate that Montage is capturing substantial value from its semiconductor products or benefiting from a favorable mix. This supports internally funded investment, provides resilience across normal cost changes, and can reinforce competitiveness over the next several quarters.
Negative Factors
Cyclical Revenue Volatility
The sharp 2023 revenue decline followed by a strong rebound demonstrates meaningful exposure to semiconductor and server-demand cycles. Such volatility can make operating results less predictable, complicate capacity and investment planning, and leave future growth dependent on the timing of platform and memory transitions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
Exceptionally high gross and net margins indicate that Montage is capturing substantial value from its semiconductor products or benefiting from a favorable mix. This supports internally funded investment, provides resilience across normal cost changes, and can reinforce competitiveness over the next several quarters.
Read all positive factors
Montage Technology Co., Ltd. Class H (6809) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$261.67B
Dividend Yield0.16%
Average Volume (3M)4.37M
Price to Earnings (P/E)91.9
Beta (1Y)-0.55
Revenue Growth38.76%
EPS GrowthN/A
CountryHK
Employees784
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)2.57
Shares Outstanding75,773,500
10 Day Avg. Volume3,400,855
30 Day Avg. Volume4,370,697
Financial Highlights & Ratios
PEG Ratio1.53
Price to Book (P/B)13.80
Price to Sales (P/S)33.56
P/FCF Ratio102.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$473.84Price Target Upside126.28% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)3.66
Revenue Forecast (FY)HK$8.86B
Montage Technology Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Montage Technology Co., Ltd., established in 2004 and headquartered in Shanghai, People's Republic of China, operates as an integrated circuit (IC) design specialist. The company is dedicated to developing and supplying IC-based solutions for the ...
How the Company Makes Money
Montage Technology primarily makes money by selling semiconductor products it designs, with revenue largely derived from (1) memory interface and buffering chips used in server platforms (e.g., devices that enable higher-capacity or higher-perform...
Montage Technology Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
96
Very Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.12B | 5.32B | 3.64B | 2.29B | 3.67B | 2.56B |
| Gross Profit | 3.93B | 3.21B | 2.12B | 1.35B | 1.71B | 1.23B |
| EBITDA | 2.26B | 1.97B | 1.54B | 575.68M | 1.47B | 974.70M |
| Net Income | 3.00B | 2.18B | 1.41B | 450.91M | 1.30B | 829.14M |
Balance Sheet | ||||||
| Total Assets | 23.19B | 13.75B | 12.22B | 10.70B | 10.69B | 8.96B |
| Cash, Cash Equivalents and Short-Term Investments | 18.02B | 9.31B | 8.63B | 7.45B | 7.48B | 6.67B |
| Total Debt | 142.35M | 34.15M | 28.80M | 15.49M | 20.71M | 32.85M |
| Total Liabilities | 1.68B | 798.45M | 822.41M | 490.92M | 758.79M | 567.86M |
| Stockholders Equity | 21.51B | 12.93B | 11.40B | 10.19B | 9.91B | 8.39B |
Cash Flow | ||||||
| Free Cash Flow | 1.91B | 1.74B | 1.31B | 307.26M | 461.98M | 526.95M |
| Operating Cash Flow | 2.32B | 2.00B | 1.69B | 731.25M | 688.84M | 680.41M |
| Investing Cash Flow | -1.75B | 827.49M | -443.47M | -574.24M | 63.44M | 68.91M |
| Financing Cash Flow | 6.71B | -1.06B | -276.94M | -372.11M | -270.09M | -609.14M |
Montage Technology Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | HK$261.67B | 91.90 | 17.80% | 0.16% | 38.76% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | HK$117.85B | 30.14 | 10.66% | 0.16% | 8.45% | ― | |
51 Neutral | HK$614.45M | -19.85 | -2.79% | 1.85% | -6.32% | -159.42% | |
43 Neutral | HK$7.34B | -3.67 | -99.65% | ― | ― | ― |
* Technology Sector Average
HK:6809
Montage Technology Co., Ltd. Class H
276.00
101.21
57.90%
HK:2878
Solomon Systech (International) Ltd.
0.25
-0.23
-47.58%
HK:2533
Black Sesame International Holding Limited
10.21
-7.82
-43.37%
HK:0501
Omnivision Integrated Circuits Group, Inc. Class H
71.70
-49.94
-41.06%
HK:0600
Axera Semiconductor Co., Ltd. Class H
16.00
-12.20
-43.26%
HK:3277
Gpixel Changchun Microelectronics Inc Class H
87.20
17.42
24.96%
Montage Technology Co., Ltd. Class H Corporate Events
Montage Technology Grants 511,000 H Share Awards Under 2026 Incentive Scheme
Aug 31, 2026
Montage Technology has implemented its 2026 H Share Incentive Scheme following approval at the 2025 annual general meeting, and on August 31, 2026 granted 511,000 share awards to 227 employee participants at a purchase price of HK$59 per H share. ...
Montage Technology Unveils 2026 Interim Results and Dividend Payout Plan
Aug 28, 2026
Montage Technology Co., Ltd. reported its unaudited consolidated interim results for the six months ended June 30, 2026, with the board and audit committee having reviewed the figures in line with Hong Kong listing requirements. The company also c...
Montage Technology Announces 2026 Interim Dividend and Outlines Tax Treatment for Cross-Border Investors
Aug 28, 2026
Montage Technology Co., Ltd. has declared an interim ordinary dividend of RMB 2 per 10 shares for the six months ended 30 June 2026, payable to H-shareholders in Hong Kong dollars at an exchange rate of RMB 1 to HKD 1.1556. The dividend, for the f...
Montage Technology Sets Board Meeting to Review 2026 Interim Results and Dividend
Aug 17, 2026
Montage Technology Co., Ltd. has scheduled a board meeting for August 28, 2026 to review and approve the unaudited interim results for the six months ended June 30, 2026, and to authorize their publication. The board will also consider whether to ...
Montage Technology Faces South Korean Competition Probe but Operations Unaffected
Jul 16, 2026
Montage Technology has disclosed that prosecutors in South Korea conducted an on-site search and seizure at one of its local offices as part of an investigation into a potential competition law violation. The company reports that none of its entit...
Montage Technology Forecasts Sharp Profit Surge on AI-Driven Chip Demand
Jul 16, 2026
Montage Technology Co., Ltd. expects robust growth in the first half of 2026, underpinned by surging demand in the AI industry and expanding adoption of DDR5 memory and interconnect solutions. The company’s core business in DDR5 RCD chips an...
Montage Technology Shareholders Approve AGM Resolutions, Dividend and Incentive Plan
Jun 24, 2026
Montage Technology Co., Ltd. reported that all resolutions at its 2025 annual general meeting in Shanghai were approved by shareholders via poll, with participation representing 41.42% of the company’s voting share capital. The AGM endorsed ...
Montage Technology Details Board Composition and Governance Roles
Jun 24, 2026
Montage Technology Co., Ltd. has announced the current composition of its board of directors, detailing the roles of executive, non-executive and independent non-executive directors and clarifying their responsibilities in corporate governance. Th...
Montage Technology Updates Final Dividend Timetable and Tax Terms for 2025
Jun 24, 2026
Montage Technology Co., Ltd. Class H has announced an updated final cash dividend for the financial year ended 31 December 2025, set at RMB 3.9 per 10 shares, equivalent to HKD 4.41 per 10 shares. The update formalizes key timetable details, inclu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.