Spansion CFO Randy W. Furr Sells 25,059 Shares (CODE)
Spansion (NASDAQ:CODE) CFO Randy W. Furr unloaded 25,059 shares of the company’s stock on the open market in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.51, for a total transaction of $413,724.09. Following the sale, the chief financial officer now directly owns 21,602 shares in the company, valued at approximately $356,649. The transaction was disclosed in a filing with the SEC, which is available at this link.
CODE has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Spansion from an “outperform” rating to a “neutral” rating in a research note on Monday, February 10th. 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $16.90.
Shares of Spansion (NASDAQ:CODE) traded up 0.31% on Tuesday, hitting $16.34. 1,031,375 shares of the company’s stock traded hands. Spansion has a 52-week low of $9.70 and a 52-week high of $16.60. The stock has a 50-day moving average of $15.02 and a 200-day moving average of $12.54. The company’s market cap is $961.8 million.
Spansion (NASDAQ:CODE) last announced its earnings results 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. On average, analysts predict that Spansion will post $1.37 earnings per share for the current fiscal year.
Spansion Inc (NASDAQ:CODE) is a designer, manufacturer and developer of Flash memory semiconductors.
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