Roth Capital Maintains Buy On Spansion, Sees 26% Upside

In a research report issued today, Roth Capital analyst Krishna Shankar maintained a Buy rating on Spansion (NYSE:CODE) with a price target of $25.00, which represents a potential upside of 26% from where the stock is currently trading.

Shankar said, “CODE reported in-line 3Q14 EPS with a revenue shortfall offset by higher gross margins due to a better product mix/ IP licensing revenues and guided to 3% sequential revenue decline. We believe that CODE is seeing good demand for high-end embedded flash memory in industrial, automotive applications offset by weakness in low-end consumer flash and Japan gaming console market. Longer-term, we believe CODE is executing well in embedded flash memory, micro-controllers, analog, and system-on-chip platforms, and expanding globally.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 5.1% and a 42.3% success rate. Shankar is ranked #1016 out of 3354 analysts.

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