Spreadtrum Comms Rating Increased to Overweight at HSBC (SPRD)

By admin | 6 years ago

Spreadtrum Comms (NASDAQ: SPRD) was upgraded by research analysts at HSBC (NYSE: HBC) from a “neutral” rating to an “overweight” rating in a report released on Monday.

Shares of Spreadtrum Comms traded up 1.28% during mid-day trading on Monday, hitting $16.5494. 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 $759.7 million and a P/E ratio of 6.56.

Spreadtrum Comms last announced its earnings results on Thursday, May 3rd. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.17. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, analysts predict that Spreadtrum Comms will post $0.47 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Spreadtrum Comms in a research note to investors on Friday. Separately, analysts at Bank of America (NYSE: BAC) upgraded shares of Spreadtrum Comms from an “underperform” rating to a “neutral” rating in a research note to investors on Friday. Finally, analysts at Bank of America (NYSE: BAC) downgraded shares of Spreadtrum Comms from a “buy” rating to an “underperform” rating in a research note to investors on Tuesday, April 17th. They now have a $13.77 price target on the stock.

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.

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