Canaccord Genuity Maintains a 'Buy' on Atmel (ATML); Seasonal Outlook for MCU

Canaccord Genuity maintains a 'Buy' on Atmel (NASDAQ: ATML) price target of $11.00.

Analyst, Bobby Burleson, said, "Atmel guided below consensus, driven by declines in its ASIC (military and aero) and memory (consumer and PC) divisions, while MCU (includes touch) was guided down in line with normal seasonality. With gross margins bottoming in Q1 and bookings improving across the core business, we expect the company to begin to hit and exceed estimates going forward."

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 $10.10 yesterday, with a 52 week range of $7.36-$16.80.

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