FBR Capital Markets Downgrades Atmel Corp. to Market Perform (ATML)
Atmel Corp. (NASDAQ:ATML) was downgraded by analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. They currently have a $9.25 price target on the stock, up from their previous price target of $8.25. FBR Capital Markets’ target price would indicate a potential upside of 7.18% from the stock’s previous close. The analysts noted that the move was a valuation call.
Atmel Corp. (NASDAQ:ATML) traded down 1.71% on Monday, hitting $8.63. The stock had a trading volume of 13,706,883 shares. Atmel Corp. has a 52-week low of $5.89 and a 52-week high of $8.81. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $7.50. The company’s market cap is $3.675 billion.
Atmel Corp. (NASDAQ:ATML) last released its earnings data on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company reiterated a “buy” rating on shares of Atmel Corp. in a research note to investors on Wednesday, November 27th. They now have a $10.00 price target on the stock. Separately, analysts at Oppenheimer initiated coverage on shares of Atmel Corp. in a research note to investors on Monday, November 11th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Atmel Corp. in a research note to investors on Friday, November 1st. They now have a $7.75 price target on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $8.65.
Atmel Corporation (NASDAQ:ATML) is engaged in designing, developing and supplying of microcontrollers.
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