Boston, MA 03/10/2014 (wallstreetpr) – Montage Technology Group Ltd (NASDAQ:MONT) has confirmed it has received a buyout offer from Chinese state owned Shanghai Pudong Science and Technology Investment Co Ltd. The Buyout offer is worth $21.50 per ordinary share representing a 25.3% premium of Montage closing price of $17.16 on March 7, 2014.
Montage technology board of directors is currently reviewing the offer to see if it clearly meets the company valuation order and discuss the next course of action. PDSTI is a state owned company a subsidiary of Pudong New Area Government of Shanghai with a registered capital of RMB2.6 billion and assets worth over RMB10 billion.
The buyout offer comes at the back of Montage announcing its quarterly earnings on February 20, 2014 in which its earnings per share came in at $0.37, beating consensus estimates of $0.30. Revenue for the quarter came in at $35.40 million slightly above consensus estimates of $35.24 million. Zacks analysts recently downgraded the company’s stock from an outerperform to a “neutral” rating with a share price target of $20.90.
Montage Technology rating in the market
Analysts at Deutsche bank currently rate Montage technology stock as a “buy” as the company continues to show significant strengths in impressive earnings per share as well as good returns On Revenue for the fourth quarter. Deutsche bank analysts have a share price target of $23 on Montage stock. Analysts at Barclays on the other hand downgraded the company’s stock from an overweight to an “equal weight” with a share price target of $16 down from highs of $20. Montage technology average rating in the market currently stands at a “buy” with an average share price of $20.82
Mattersight Corporation (NASDAQ:MATR) Results of Operation and Financial statement
Mattersight Corporation (NASDAQ:MATR) recently filed Form 8-K furnishing its results for the fourth quarter and full year for the period ending December 31, 2013. Mattersight Corporation has subsequently filed a report showing that its compensation committee of the board of directors sitting on February 28, 2014, agreed on compensation packages for VPs worth 50% in common stock and 50% in cash. The bonuses had not been added on the recently released financial results.
The bonuses will therefore result in a $726 decrease in earnings from $825 to $95 for the fourth quarter. The company’s loss for the full year ending December 31, 2013 will also increase from $821 to $1512.
