Boston, MA 03/19/2014 (wallstreetpr) –Spansion Inc. (NYSE:CODE) a global leader in embedded system solutions has been awarded a green certification award on its effort of ensuring its product content manufacturing process meets Huawei’s stringent green requirements. The award comes at the back of the Green IT Award in 2013 from the Green IT Promotion Council in Asia.
Spansion has committed to providing green and safe workplace for its employees and community, with high levels of organizational improvement as well as the environment, health and safety. Spansion has on the other hand worn a patent dispute over Macronix in a District court of Virginia. Macronix currently has seven patent infringement against Spansion in the US district court in Virginia.
Spansion price target Raised to $20
Spansion Inc. (NYSE:CODE) continues to receive positive news with its share price being raised from $17 to $20 on a research note to investors by Pacific Crest. The research firm now has an “Outperform” rating on Spansion stock. Analysts at Zacks currently rate Spansion as a “neutral” having downgraded it form an “outperform”, they now have a price target of $16.20
Needham &Company on the other hand raised their price target on Spansion stock from $16 to $22 and reiterating a “buy” rating as the company continues to show strengths in Impressive earnings per share as well as good revenue growth metrics. One equity research firm rates Spansion as a “hold” with six rating it as a “hold” Spansion average price rating in the market stands at a “Buy” with an average price target of $17.28.
Spansion last posted its quarterly earnings on February 4 in which earnings per share came in at $0.20 that met consensus estimates of $0.20. The company net revenue for the quarter came in at $313.70 million slightly lower compared to consensus estimates of $320.27 million.
Spansion Inc. (NYSE:CODE) was up on Tuesday trading session by 1.78% to close the day at a high $17.76