MONTAGE TECH's stock price surged 5.00% during intraday trading on Friday, significantly outperforming the broader market.

The sharp rise follows the company's recent completion of its second share buyback scheme, where it repurchased 1.662 million shares at a total cost of approximately RMB 220 million. All repurchased shares were subsequently cancelled, reducing the total share capital and enhancing per-share equity for remaining shareholders.

Further bolstering investor sentiment, UBS Group recently increased its position in the company by acquiring 181,800 H shares, signaling institutional confidence in MONTAGE TECH's long-term value. The stock's movement also aligns with a broader rebound observed across the semiconductor sector.