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Atmel (ATML) PT, Estimates Trimmed at BofA/Merrill Lynch on Muted Growth

October 30, 2014 6:57 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: 20 | Down: 14 | New: 22
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BofA/Merrill Lynch analyst Vivek Arya reiterated a Neutral rating and trimmed his price target on Atmel (NASDAQ: ATML) to $8.00 (from $9.00) following in-line Q3 results but disappointing guidance. The analyst notes muted growth was offset by GM expansion.

The firm trims CY14/CY15 EPS by 3c/14c to $0.36/$0.44.

Ayra highlights: 1) 1H15 visibility remains limited pressuring CY15 rev growth, especially for largest segment industrial (~40%); 2) Max touch continues to disappoint (competition, Samsung); and 3) lumpy execution and persistent inability to beat Street expectations in outer quarter.

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 $7.23 yesterday.



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