Spansion Hits New 1-Year High at $15.74 (CODE)
Spansion (NASDAQ:CODE) shares reached a new 52-week high during mid-day trading on Tuesday , AnalystRatingsNetwork reports. The company traded as high as $15.74 and last traded at $15.59, with a volume of 584,582 shares trading hands. The stock had previously closed at $15.45.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Spansion from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $16.20 price target on the stock. Separately, analysts at Needham & Company raised their price target on shares of Spansion from $16.00 to $22.00 in a research note on Wednesday, February 5th. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Spansion from $15.00 to $16.00 in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Spansion presently has an average rating of “Buy” and an average target price of $16.90.
The stock’s 50-day moving average is $14.29 and its 200-day moving average is $12.2. The company’s market cap is $919.4 million.
Spansion (NASDAQ:CODE) last released its 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 $1.37 EPS for the current fiscal year.
Spansion Inc (NASDAQ:CODE) is a designer, manufacturer and developer of Flash memory semiconductors.
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