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Spansion, Inc. (CODE) designs, manufactures, develops, and sells embedded systems semiconductors worldwide.
The company offers flash memory, microcontrollers, mixed-signal and analog products, and embedded system-on-chip solutions.
It provides a family of parallel and serial NOR flash memory, as well as a range of lower density NAND flash memory products for non-commodity embedded applications.
The company also offers a family of 8-, 16-, 32-bit proprietary and 32-bit ARM based microcontrollers that are used in automotive products, such as body electronics, chassis and safety, power train and hybrid, home appliances, digital audio/video equipment, and industrial and office equipment.
In addition, it provides power management integrated circuits (IC), including DC/DC converters, voltage regulators and supervisors, and power monitoring and reset ICs; and a family of LED lighting driver ICs and energy harvesting solutions. In addition, it is involved in licensing intellectual property to third parties, as well as assisting customers in developing and prototyping their designs by providing software and hardware development tools, drivers, and simulation models for system-level integration. The company markets and sells its products directly or through third-party distributors to original equipment manufacturers, original design manufacturers, and contract manufacturers.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.
52-Week Trading Range: $9.70 - $23.65
Entry Point: $23.65
Stop Loss: $22.47
Target Price: $26.05
CODE fell below our stop loss. Closed at $22.88. We think shares will bounce back nicely.
