Zacks Downgrades Spreadtrum Comms to Underperform (SPRD)
Spreadtrum Comms (NASDAQ:SPRD) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, AR Network reports. They currently have a $28.90 price objective on the stock. Zacks‘ price target indicates a potential downside of 4.93% from the stock’s previous close.
A number of other analysts have also recently weighed in on SPRD. 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. Separately, 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. Finally, analysts at Jefferies Group downgraded shares of Spreadtrum Comms (NASDAQ:SPRD) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 5th. They now have a $31.00 price target on the stock, up previously from $28.50. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $27.59.
Spreadtrum Comms (NASDAQ:SPRD) remained flat at $30.40 during during mid-day trading trading on Wednesday. The stock had a trading volume of 262,830 shares. Spreadtrum Comms has a one year low of $14.50 and a one year high of $30.46. The stock’s 50-day moving average is $30.25 and its 200-day moving average is $24.90. The company has a market cap of $1.497 billion and a price-to-earnings ratio of 15.59.
Spreadtrum Comms (NASDAQ:SPRD) last announced its earnings results 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 in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 60.5% on a year-over-year basis. 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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