Spansion Inc. (CODE) Releases Q1 Earnings Guidance
Spansion Inc. (NASDAQ:CODE) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.14 to $0.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.19, American Banking News reports. The company issued revenue guidance of $295 to $320 million, compared to the consensus revenue estimate of $309.19 million.
Shares of Spansion Inc. (NASDAQ:CODE) traded up 0.63% on Tuesday, hitting $14.42. 806,633 shares of the company’s stock traded hands. Spansion Inc. has a 52-week low of $9.70 and a 52-week high of $15.59. The stock has a 50-day moving average of $13. and a 200-day moving average of $12.10. The company’s market cap is $848.8 million.
Spansion (NASDAQ:CODE) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.20 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.20. The company had revenue of $313.70 million for the quarter, compared to the consensus estimate of $320.27 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. Analysts expect that Spansion Inc. will post $0.76 EPS for the current fiscal year.
CODE has been the subject of a number of recent research reports. Analysts at Morgan Stanley initiated coverage on shares of Spansion in a research note to investors on Thursday, January 30th. They set an overweight rating and a $19.00 price target on the stock. On a related note, analysts at Zacks upgraded shares of Spansion from a neutral rating to an outperform rating in a research note to investors on Thursday, January 2nd. They now have a $14.80 price target on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Spansion in a research note to investors on Friday, December 20th. They set a hold rating on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $15.97.
Spansion Inc (NASDAQ:CODE) is a designer, manufacturer and developer of Flash memory semiconductors.
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