George Soros’ Soros Fund Management Discloses 5% Passive Stake In Spansion Inc. (CODE)


Soros Fund Management, managed by George Soros, has reported a new passive stake in Spansion Inc. (NYSE:CODE). Soros currently owns 3.07 million Class A common stock shares of the company, representing about 5.11% of the total number of shares outstanding, a new filing with the U.S. Securities and Exchange Commission showed.

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Spansion Inc. (NYSE:CODE) is engaged in designing, manufacturing and development of Flash memory semiconductors. The company’s Flash memory, microcontrollers, analog and mixed-signal products drive the development of faster, intelligent, secure and energy efficient electronics. It has a market cap of $1.1 billion.

Last month, Spansion Inc. (NYSE:CODE) said that it strengthened its automotive flash memory portfolio by launching six automotive-grade devices. Three new Serial NOR and three new NAND memory densities are specifically qualified to meet the extended temperature ranges and stringent quality requirements of the automotive industry, according to a statement.

Other shareholders of the company include Charles De Vaulx’s International Value Advisers, which owned 5.68 million shares, and Richard Chilton’s Chilton Investment Company, which held 2.91 million shares at the end of December 2013. Another investor Chuck Royce’s Royce & Associates disclosed ownership of 1.13 million shares of the company at the end of 2013.

Known as “the Man Who Broke the Bank of England,” eighty-year-old George Soros is a Hungarian-American hedge fund manager who graduated from the London School of Economics in 1952. According to Forbes, George Soros is ranked 35th on the list of the world’s richest people, with an estimated net worth of $14.2 billion.

According to a recent filing, George Soros trimmed his stake in Exar Corporation (NYSE:EXAR) by selling 26,577 shares in two transactions at prices of $11.23 and $11.24 apiece. Following the deals, Soros Fund owns around 4.93 million shares of the company, the filing revealed.

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