Atmel Corp. Price Target Cut to $9.00 by Analysts at Oppenheimer (ATML)
Equities research analysts at Oppenheimer cut their price target on shares of Atmel Corp. (NASDAQ:ATML) from $10.00 to $9.00 in a research note issued to investors on Thursday, Analyst Ratings Net reports. Oppenheimer’s price target indicates a potential upside of 17.26% from the stock’s previous close.
A number of other firms have also recently commented on ATML. 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. Separately, 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $8.73.
Shares of Atmel Corp. (NASDAQ:ATML) traded down 6.29% during mid-day trading on Thursday, hitting $7.675. 24,375,918 shares of the company’s stock traded hands. Atmel Corp. has a 52-week low of $5.89 and a 52-week high of $8.91. The stock’s 50-day moving average is $8.13 and its 200-day moving average is $7.59. The company’s market cap is $3.269 billion. Atmel Corp. also was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 14,884,600 shares, an increase of 17.9% from the December 31st total of 12,227,175 shares. Based on an average daily volume of 10,268,506 shares, the short-interest ratio is currently 1.4 days. Approximately 3.7% of the company’s stock are sold short.
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. On average, analysts predict that Atmel Corp. will post $0.55 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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