Spansion Upgraded to “Buy” at Jefferies Group (CODE)
Spansion (NASDAQ:CODE) was upgraded by Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Topeka Capital Markets raised their price target on shares of Spansion from $21.00 to $25.00 in a research note on Monday, July 14th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Spansion from $20.00 to $24.00 in a research note on Friday, June 13th. They now have an “overweight” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of Spansion to a “hold” rating in a research note on Monday, June 9th. They now have a $21.00 price target on the stock, up previously from $18.50. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.03.
Shares of Spansion (NASDAQ:CODE) traded up 0.81% on Tuesday, hitting $22.44. The stock had a trading volume of 843,072 shares. Spansion has a 52 week low of $9.70 and a 52 week high of $23.20. The stock’s 50-day moving average is $21.43 and its 200-day moving average is $17.9. The company’s market cap is $1.355 billion.
Spansion (NASDAQ:CODE) last released its earnings data 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. On average, analysts predict that Spansion will post $1.27 earnings per share for the current fiscal year.
Spansion Inc (NASDAQ:CODE) provides flash memory-based embedded systems solutions.
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