Spreadtrum Comms Hits New 52-Week High at $30.46 (SPRD)
Shares of Spreadtrum Comms (NASDAQ:SPRD) hit a new 52-week high during trading on Monday, American Banking and Market News reports. The stock traded as high as $30.46 and last traded at $30.46, with a volume of 416,617 shares trading hands. The stock had previously closed at $30.42.
A number of analysts have recently weighed in on SPRD shares. Analysts at Zacks downgraded shares of Spreadtrum Comms (NASDAQ:SPRD) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 13th. They now have a $32.70 price target on the stock. Separately, analysts at Chardan Capital downgraded shares of Spreadtrum Comms (NASDAQ:SPRD) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th. They now have a $31.00 price target on the stock, up previously from $28.50. Finally, analysts at Topeka Capital Markets downgraded shares of Spreadtrum Comms (NASDAQ:SPRD) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, August 7th. They now have a $31.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.91.
Spreadtrum Comms has a 52 week low of $14.50 and a 52 week high of $30.46. The stock has a 50-day moving average of $30.22 and a 200-day moving average of $24.62. The company has a market cap of $1.500 billion and a price-to-earnings ratio of 15.60.
Spreadtrum Comms (NASDAQ:SPRD) last released its earnings data on Tuesday, August 6th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.23. The company had revenue of $277.80 million for the quarter, compared to the consensus estimate of $274.07 million. During the same quarter last year, the company posted $0.41 earnings per share. Spreadtrum Comms’s revenue was up 60.5% compared to the same quarter last year. Analysts expect that Spreadtrum Comms will post $2.30 EPS for the current fiscal year.
Spreadtrum Communications, Inc is a fabless semiconductor company that designs, develops and markets markets mobile chipset platforms for smartphones, feature phones and other consumer electronics products that support second generation (NASDAQ:SPRD), third generation (3G) and fourth generation (4G) wireless communications standards.
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