Analysts Bullish on Atmel (ATML) as Tablet Wins Ramp

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November 2, 2012 11:57 AM EDT
Get Alerts ATML Hot Sheet
Price: $8.14 --0%

Rating Summary:
    9 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 7 | New: 31
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Canaccord Genuity maintained a Buy rating on Atmel (NASDAQ: ATML) but trimmed its price target to $7.00 (from $8.00).

Commenting on Atmel's quarterly results, analyst Bobby Burleson said "While guidance is below the consensus view for Q4, we note that the outlook excludes recently divested serial EEPROM ($12m in Q3). Further, Atmel's MCU business is performing better than expectations for both core MCU and touch controllers."

He thinks strong ramps for key tablet wins including Surface and Kindle Fire HD, and a looming end to a take or pay European foundry agreement bode well for the Atmel.

For an analyst ratings summary and ratings history on Atmel click here. For more ratings news on Atmel click here.

Shares of Atmel closed at $5.05 yesterday.

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