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Atmel (NASDAQ:ATML) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Thursday.

Atmel (NASDAQ:ATML) traded down 9.48% on Thursday, hitting $7.785. The stock had a trading volume of 11,058,510 shares. Atmel has a 52 week low of $6.45 and a 52 week high of $9.76. The stock has a 50-day moving average of $9.00 and a 200-day moving average of $8.38. The company has a market cap of $3.277 billion and a price-to-earnings ratio of 132.31.

Atmel (NASDAQ:ATML) last announced its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.09. The company had revenue of $355.50 million for the quarter, compared to the consensus estimate of $356.50 million. During the same quarter last year, the company posted $0.06 earnings per share. Atmel’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that Atmel will post $0.44 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Oppenheimer raised their price target on shares of Atmel from $9.00 to $10.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Atmel from $7.00 to $8.00 in a research note on Tuesday, July 15th. They now have an “equal weight” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Atmel from $8.50 to $11.00 in a research note on Wednesday, July 9th. They now have an “outperform” rating on the stock. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.37.

Atmel Corporation (NASDAQ:ATML) is engaged in designing, developing and supplying of microcontrollers.

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