Needham & Company Reiterates a 'Buy' on Spansion (CODE); Positive Feedback from Marketing Trip
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Price: $38.59 --0%
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Spansion (NYSE: CODE) price target of $16.00.
Analyst, Rajvinda S. Gill, "Over the past two days, Needham hosted investor meetings with Spansion’s CFO (Randy Furr) and Ajay Bhatia (Director of IR) in Kansas City and New York. Investor tone was decidedly more bullish than in past meetings. We believe Spansion is in the process of a material gross margin recovery. Moreover, the overall semiconductor cycle is starting to bottom, specifically in embedded NOR, inventories are lean, and customer forecasts for 2H12 have improved. Under a bull case scenario, if CODE can achieve some modest level of top line growth in 2012 combined with higher gross margins, we could see earnings power of $2+ exiting 4Q12."
For an analyst ratings summary and ratings history on Spansion click here. For more ratings news on Spansion click here.
Shares of Spansion closed at $12.10 yesterday.
Analyst, Rajvinda S. Gill, "Over the past two days, Needham hosted investor meetings with Spansion’s CFO (Randy Furr) and Ajay Bhatia (Director of IR) in Kansas City and New York. Investor tone was decidedly more bullish than in past meetings. We believe Spansion is in the process of a material gross margin recovery. Moreover, the overall semiconductor cycle is starting to bottom, specifically in embedded NOR, inventories are lean, and customer forecasts for 2H12 have improved. Under a bull case scenario, if CODE can achieve some modest level of top line growth in 2012 combined with higher gross margins, we could see earnings power of $2+ exiting 4Q12."
For an analyst ratings summary and ratings history on Spansion click here. For more ratings news on Spansion click here.
Shares of Spansion closed at $12.10 yesterday.
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