HK Stock Market Move | Montage Technology (06809) rose more than 9% in early trading; peer Rambus posted strong results and guidance; BofA says this is positive news for Montage

Montage Technology (06809) rose more than 9% in early trading. As of press time, it was up 9.30% at HK$230.4, with a turnover of HK$343 million. On the news front, Rambus reported third-quarter revenue of US$218.3 million, up 22% year-on-year, a record high; product revenue was US$114.3 million, up 22% year-on-year and 15% quarter-on-quarter. The company expects fourth-quarter product revenue of US$127 million to US$133 million, which at the midpoint implies year-on-year growth accelerating from 22% to 34%, with the core driver coming from expanded shipments of next-generation DDR5 register clock driver (RCD) chips and companion chips. BofA Securities believes Rambus' strong results and guidance are positive news for peer Montage Technology, potentially signaling improving demand trends for its memory interface chips in the fourth quarter of this year. It maintains its "Buy" rating, anticipating a stronger demand outlook and improved visibility on backlog orders for 2027, coupled with new product ramp-up, and keeps its A-share target price for Montage Technology at RMB293.