Spansion Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:CODE)
Shares of Spansion (NASDAQ:CODE) have been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the stock, Analyst RN reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.62.
Shares of Spansion (NASDAQ:CODE) traded up 1.75% on Thursday, hitting $21.825. 433,951 shares of the company’s stock traded hands. Spansion has a 52-week low of $9.70 and a 52-week high of $21.75. The stock has a 50-day moving average of $18.52 and a 200-day moving average of $16.13. The company’s market cap is $1.318 billion.
Spansion (NASDAQ:CODE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.18. The company had revenue of $311.80 million for the quarter, compared to the consensus estimate of $307.37 million. During the same quarter last year, the company posted $0.03 earnings per share. Spansion’s revenue was up 64.5% compared to the same quarter last year. Analysts expect that Spansion will post $1.26 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley upgraded shares of Spansion to a “hold” rating in a research note on Monday. They now have a $21.00 price target on the stock, up previously from $18.50. Separately, analysts at Jefferies Group raised their price target on shares of Spansion from $18.50 to $21.00 in a research note on Monday. They now have a “hold” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Spansion from $20.00 to $23.00 in a research note on Monday, June 2nd. They now have an “outperform” rating on the stock.
Spansion Inc (NASDAQ:CODE) provides flash memory-based embedded systems solutions.
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