Spansion upgraded to Buy from Hold at Jefferies Jefferies upgraded Spansion to Buy citing the potential for margin upside and the company's ability to monetize its intellectual property. The firm raised its price target for shares to $28 from $21.
Spansion has positive read through from Texas Instruments, says Sterne Agee Sterne Agee believes that Texas Instruments' (TXN) commentary on 4G telecom, auto and industrial strength should be positive for Spansion (CODE). The firm keeps a Buy rating on Spansion.
Spansion challenges Macronix patent claims Spansion has filed petitions with the USPTO's Patent Trial and Appeal Board to invalidate the patents that are being asserted against Spansion by Macronix International and Macronix America in an investigation that is currently pending at the U.S. International Trade Commission. In its petitions, Spansion challenges the validity of three patents addressing technologies directed to circuit designs and circuit layouts. The PTAB's decision on granting these petitions is expected in early 2015.