Boston, MA 06/14/2013 (wallstreetpr) – The prices of American Depository Shares of Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) had surged by 10.66 percent to close at $20.97 per ADR for the end of last trading session on Thursday. The shares of the company had been trading in the range of $20.48 to $22.01 per ADR during the day. The American Depository Shares of Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) had recorded 52 week high price level of $23.20 per ADR and 52 week low price level of $14.50 per ADR.
Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) is primarily engaged in the design, development and marketing of mobile chipset platforms for use in smart phones, feature phones and other electronic communications devices which support 2G, 3G and 4G wireless communications standards. The company with its operations basically located in the People’s Republic of China had recently revised the guidance for the financial results of the second quarter of fiscal year which ends on June 30, 2013.
Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) had announced that it expects revenues to be between $270 million and $278 million, which is observed to be an increase of 42.9 percent to 47.1 percent over the first quarter revenues. Further the company also expects an increase in the gross profit margin for its products. This revision in the guidance in the upward direction is primarily owed to the continuing strong demand for the semiconductor chipset platforms of Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) throughout the year.
Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) had scheduled the Annual General Meeting of Shareholders for the fiscal year 2013 on July 26, 2013. The ADRs of the semiconductor provider had witnessed the trade of 5.95 million shares on Thursday, while the average trading volume is at 1.27 million shares per day.
Spreadtrum Communications Inc. ADR (NASDAQ:SPRD) presently holds 46.88 million shares outstanding in the market with an institutional ownership of 66 percent of its holdings.
