Spansion Lowered to “Neutral” at Zacks (CODE)
Spansion (NASDAQ:CODE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Monday, Analyst Ratings Net reports. They currently have a $16.20 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 4.85% from the stock’s previous close.
A number of other analysts have also recently weighed in on CODE. Analysts at Needham & Company raised their price target on shares of Spansion from $16.00 to $22.00 in a research note to investors on Wednesday, February 5th. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Spansion from $15.00 to $16.00 in a research note to investors on Wednesday, February 5th. Finally, analysts at Pacific Crest raised their price target on shares of Spansion from $16.00 to $17.00 in a research note to investors on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Spansion has a consensus rating of “Buy” and an average price target of $16.90.
Spansion (NASDAQ:CODE) traded up 0.59% during mid-day trading on Monday, hitting $15.45. The stock had a trading volume of 642,327 shares. Spansion has a 1-year low of $9.70 and a 1-year high of $15.59. The stock’s 50-day moving average is $14.22 and its 200-day moving average is $12.18. The company’s market cap is $909.4 million.
Spansion (NASDAQ:CODE) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.20 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.34 earnings per share. Spansion’s revenue was up 40.0% compared to the same quarter last year. Analysts expect that Spansion will post $1.38 EPS for the current fiscal year.
Spansion Inc (NASDAQ:CODE) is a designer, manufacturer and developer of Flash memory semiconductors.
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