Canaccord Genuity Initiates Coverage on Atmel (ATML)
Analysts at Canaccord Genuity initiated coverage on shares of Atmel (NASDAQ:ATML) in a research report issued to clients and investors on Friday. The firm set a “hold” rating and a $9.00 price target on the stock. Canaccord Genuity’s price target would suggest a potential upside of 12.22% from the company’s current price.
Shares of Atmel (NASDAQ:ATML) traded down 1.25% on Friday, hitting $7.92. The stock had a trading volume of 843,956 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 $8.95 and a 200-day moving average of $8.38. The company has a market cap of $3.335 billion and a P/E ratio of 100.25.
Atmel (NASDAQ:ATML) last announced its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Atmel will post $0.42 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ATML. Analysts at Zacks reiterated a “neutral” rating on shares of Atmel in a research note on Thursday. They now have a $9.00 price target on the stock. Separately, analysts at Bank of America downgraded shares of Atmel from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $9.00 price target on the stock, down previously from $10.00. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.38.
Atmel Corporation (NASDAQ:ATML) is engaged in designing, developing and supplying of microcontrollers.
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