Spreadtrum Communications Shares Climbing Higher, Up 1.4%

Published on Thu, 03/28/2013 - 12:25
By Peter Chu in Market movers, SPRD, market movers, nasdaq:sprd, spreadtrum communications

Up 1.4% to $20.51, Spreadtrum Communications (NASDAQ:SPRD), is one of today's notable movers. The Dow is up 0.3% to 14,563 and the S&P is currently up 0.2% to 1,566.

Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the wireless communications market.

Potential upside of 5.8% exists for Spreadtrum Communications, based on a current level of $20.51 and analysts' average consensus price target of $21.71. The stock should discover initial support at its 200-day moving average (MA) of $18.40 and subsequent support at its 50-day MA of $16.96.

Spreadtrum Communications share prices have moved between a 52-week high of $23.20 and a 52-week low of $12.63 and are now trading 62% above that low price at $20.51 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

By Peter Chu
pchu@fnno.com

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