Montage Technology shares tumble after Seoul prosecutors search Korea office

Montage Technology shares fell sharply after the company said the Seoul Central District Prosecutors’ Office searched its South Korea office and collected evidence on July 15 in an early-stage antitrust investigation tied to alleged price manipulation in memory interface chips. South Korean authorities also searched local offices of Japan’s Renesas Electronics and U.S.-based Rambus the same day as prosecutors examined whether the companies coordinated pricing or exchanged information in ways that may have affected major buyers including Samsung Electronics, SK Hynix and Micron. Montage, which has been described as holding the largest share of the memory interface chip market, said it is fully cooperating, that neither the company nor its directors or employees have been charged, and that operations continue normally, while cautioning that the probe remains at an early stage and its duration and outcome are uncertain. Shares dropped more than 18%, with reports describing a fall of roughly 20% to 23% after news of the raids. In a separate announcement, Montage proposed repurchasing 300 million yuan to 600 million yuan of A-shares within three months using its own funds to support company value and investor interests. The new scrutiny follows a reported U.S. Department of Justice Antitrust Division probe opened in January 2026 over similar price-fixing concerns, raising the prospect of parallel enforcement across key semiconductor jurisdictions.