Zacks upgraded shares of Spreadtrum Comms (NASDAQ: SPRD) from a neutral rating to an outperform rating in a report issued on Monday, StockRatingsNetwork reports. They currently have $31.20 target price on the stock.
Zacks has also taken action a number of other information technology stocks recently. The firm upgraded shares of North American Energy Partners from an underperform rating to a neutral rating. The firm now has a $5.10 price target on that stock. Also, Zacks downgraded shares of New Gold from a neutral rating to an underperform rating. Their analysts now have a $6.30 price target on that stock. Finally, Zacks upgraded shares of Kinder Morgan Management LLC from a neutral rating to an outperform rating. Zacks now has a $91.20 price target on that stock.
SPRD has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity downgraded shares of Spreadtrum Comms from a buy rating to a hold rating in a research note to investors on Friday, July 12th. They now have a $31.00 price target on the stock, up previously from $29.00. Separately, analysts at Topeka Capital Markets downgraded shares of Spreadtrum Comms from a buy rating to a hold rating in a research note to investors on Friday, July 12th. They now have a $31.00 price target on the stock, down previously from $32.00. Finally, analysts at Needham & Company downgraded shares of Spreadtrum Comms from a buy rating to a hold rating in a research note to investors on Friday, July 12th. They now have a $30.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $26.91.
Spreadtrum Comms (NASDAQ: SPRD) traded up 0.17% on Monday, hitting $29.69. Spreadtrum Comms has a 52-week low of $14.50 and a 52-week high of $30.20. The stock’s 50-day moving average is currently $23.41. The company has a market cap of $1.438 billion and a price-to-earnings ratio of 17.33.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 24th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, July 5th.
Spreadtrum Communications, Inc is a fabless semiconductor company that designs, develops and markets markets mobile chipset platforms for smartphones, feature phones and other consumer electronics products that support second generation (NASDAQ: SPRD), third generation (3G) and fourth generation (4G) wireless communications standards.
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