Touch-Enabled Notebooks a Positive Atmel (ATML)

January 16, 2013 9:21 AM EST Send to a Friend
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Price: $8.34 -1.18%

Rating Summary:
    18 Buy, 7 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Canaccord Genuity today maintained a Buy rating on Atmel (NASDAQ: ATML) and raised its price target to $8.00 (from $7.00).

"We are reiterating a BUY rating for shares of Atmel based on higher touch penetration assumptions for notebooks and our continued view for Atmel to capture healthy market share (we are modeling 40%) at mid-single-digit ASPs," said analyst Bobby Burleson.

Burleson cited a number of reasons for increased optimism in touch, including conversations on the CES show floor, an investor meeting with Atmel, as well as feedback from Intel (Nasdaq: INTC) and the Taiwan touch supply chain.

“We believe Ultrabooks will find healthy adoption in 2013, in large part due to achieving mainstream price points. For touch-enabled notebooks, we believe price points could go at least as low as $599 by the holiday season,” said Burleson.

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 $6.70 yesterday.

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