Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Spreadtrum Falls to Eight-Month Low on Rival’s Buy Rating

Spreadtrum Communications Inc., a Chinese mobile-phone chipmaker, tumbled to an eight-month low in New York after Chardan Capital Markets recommended buying shares of competitor RDA Microelectronics Inc.

American depositary receipts of Shanghai-based Spreadtrum lost 7.8 percent to $13.67, extending its three-day decline to 19 percent, at the close of trading in New York. It was the lowest close since Aug. 8. Pudong, China-based RDA gained for a third day, adding 2.7 percent to $12.99, a two-month high.

RDA is taking market share away from Spreadtrum as it undercuts its competitor’s pricing, said Jay Srivatsa, the managing director of equity research at Chardan, who initiated coverage of RDA with a buy rating today. Srivatsa has a neutral rating on Spreadtrum.

“RDA is killing their pricing which is a huge negative for Spreadtrum,” Srivatsa said in a phone interview from New York. “The pricing has been coming down quite a bit, and we’re seeing that RDA is becoming a low-cost leader, and that’s driving Spreadtrum’s margins down.”

Spreadtrum also declined after Intel Corp., the world’s largest semiconductor maker, forecast second-quarter gross margin that was lower than some analysts predicted, said JMP Securities analyst Alex Gauna in a phone interview from San Francisco.

Intel slipped 1.8 percent to $27.95.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.