Atmel Corp. Downgraded by SunTrust to Neutral (ATML)
Atmel Corp. (NASDAQ:ATML) was downgraded by analysts at SunTrust from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.
Shares of Atmel Corp. (NASDAQ:ATML) opened at 8.19 on Thursday. Atmel Corp. has a one year low of $5.89 and a one year high of $8.91. The stock has a 50-day moving average of $8.13 and a 200-day moving average of $7.59. The company’s market cap is $3.488 billion.
Atmel Corp. (NASDAQ:ATML) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.11 by $0.01. The company had revenue of $353.20 million for the quarter, compared to the consensus estimate of $357.37 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Atmel Corp. will post $0.28 EPS for the current fiscal year.
ATML has been the subject of a number of other recent research reports. Analysts at Oppenheimer cut their price target on shares of Atmel Corp. from $10.00 to $9.00 in a research note to investors on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Atmel Corp. in a research note to investors on Wednesday, January 29th. They now have a $8.75 price target on the stock. Finally, analysts at FBR Capital Markets downgraded shares of Atmel Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, January 13th. They now have a $9.25 price target on the stock, up previously from $8.25. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Atmel Corp. has an average rating of “Buy” and an average price target of $8.75.
Atmel Corporation (NASDAQ:ATML) is engaged in designing, developing and supplying of microcontrollers.
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