Atmel Corp. Price Target Lowered to $7.00 at Wedbush (ATML)
Investment analysts at Wedbush cut their price target on shares of Atmel Corp. (NASDAQ:ATML) from $7.50 to $7.00 in a note issued to investors on Monday, Analyst Ratings Net reports. The firm currently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential downside of 3.25% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Raymond James cut their price target on shares of Atmel Corp. from $9.00 to $8.00 in a research note to investors on Monday, October 28th. They now have an “outperform” rating on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of Atmel Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, October 28th. Finally, analysts at Pacific Crest downgraded shares of Atmel Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Monday, October 14th. They now have a $9.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Atmel Corp. presently has an average rating of “Buy” and a consensus target price of $8.30.
Atmel Corp. (NASDAQ:ATML) traded down 0.55% on Monday, hitting $7.235. 4,780,529 shares of the company’s stock traded hands. Atmel Corp. has a 52 week low of $4.37 and a 52 week high of $8.40. The stock’s 50-day moving average is $7.28 and its 200-day moving average is $7.35. The company’s market cap is $3.094 billion.
Atmel Corp. (NASDAQ:ATML) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.09. The company had revenue of $356.30 million for the quarter, compared to the consensus estimate of $350.07 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts predict that Atmel Corp. will post $0.28 earnings per share for the current fiscal year.
Atmel Corporation (NASDAQ:ATML) is engaged in designing, developing and supplying of microcontrollers.
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