Spreadtrum Comms Rating Increased to Buy at Nomura (SPRD)
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase (NYSE: JPM) upgraded shares of Spreadtrum Comms from an “overweight” rating to a “positive” rating in a research note to investors on Tuesday. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Spreadtrum Comms in a research note to investors on Friday, May 25th. Finally, analysts at HSBC (NYSE: HBC) upgraded shares of Spreadtrum Comms from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, May 7th.
Shares of Spreadtrum Comms opened at 18.20 on Tuesday. Spreadtrum Comms has a 52 week low of $8.59 and a 52 week high of $29.98. The company has a market cap of $836.2 million and a P/E ratio of 7.37.
Spreadtrum Comms last announced its earnings results on Thursday, May 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.17. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Spreadtrum Comms will post $0.51 EPS next quarter.
Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops and markets baseband processor, radio frequency (RF) transceiver and turnkey solutions for the wireless communications and mobile television market.