Spreadtrum (SPRD) - Zacks #1 Rank Top Performers
25 Octubre 2011 - 7:00PM
Zacks
Spreadtrum Communications, Inc. (SPRD) reported a solid
second-quarter performance in early August that has helped keep
this Chinese fabless semiconductor provider on the Zacks #1 Rank
Top Performers List.
Now, we are less than two weeks away from SPRD’s third quarter
report on Nov 9, and fortunately earnings estimates for the period
are on the rise. Presently, the Zacks Consensus Estimate for the
quarter is 67 cents per share, or nearly 20% higher than three
months ago. There has even been a 1.5% improvement in the past
seven trading days.
If this company, which specializes in advanced technology for 2G
and 3G wireless communications standards, can put together another
encouraging performance, then it may be able to sustain an enviable
Zacks Rank for the foreseeable future.
Today, it was one of the best Zacks #1 Rank performers with a
price over $5. Shares advanced approximately 7.75%. Volume
practically reached 1.85 million shares, compared to the daily
average of 1.127 million.
One of the great advantages of SPRD is its location. Chinese
consumers are spending more while the country’s economy continues
to churn. In the second quarter, the company’s revenue grew for
both its 2.5G and 3G product lines. It is also expanding its
presence in emerging markets.
The second quarter saw earnings per ADS of 60 cents, which
surpassed the Zacks Consensus Estimate by more than 9% while also
surging past last year’s 21 cents. Total revenue jumped 124.2% to
US$160.2 million. It forecasted revenue between US$172 million and
US$178 million for the third quarter.
As the graph below shows, earnings estimates have been moving
steadily higher for Spreadtrum Communications. The Zacks Consensus
Estimate for 2011 is currently $2.46 per share, which is up 18.3%
from three months ago. There has also been a penny improvement over
the past week.
As welcome a trend as that is, SPRD’s 2012 outlook is even more
impressive. The Zacks Consensus Estimate is up 13.5% in three
months to $2.69. In addition, the past seven days have seen an
improvement of 10 cents, or nearly 4%.
Analysts are now expecting year-over-year profit improvement of
more than 9%.
Other Zacks #1 Rank Top Performers on Wednesday included
Rentech Inc. (RTK, +18.33%) and VIST Financial Corp.
(VIST, +17.44%).
Click here for the full Zacks #1 Rank List.
RENTECH INC (RTK): Free Stock Analysis Report
SPREADTRUM-ADR (SPRD): Free Stock Analysis Report
VIST FINANCIAL (VIST): Free Stock Analysis Report
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