UBS Lowers PT & Estimates on Atmel (ATML); Maintains 'Buy' Because of Product Cycle
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Price: $7.42 +1.50%
Rating Summary:
15 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
15 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade ATML Now!
UBS maintains a 'Buy' on Atmel (NASDAQ: ATML) price target of $11.00 (from $11.50).
Analyst, Steven Eliscu, said, "Atmel 2Q sales were slightly below our estimate but 3Q guidance for flat sales and down gross margin was disappointing...We maintain our Buy, as we still expect key product cycles to drive growth: 1) Non-touch microcontrollers with a focus around cost-efficient and very low-power 8-bit products at the low-end, and leading-edge ARM-based products at the high-end, 2) Touch controller leadership at the high-end where we expect growth from 2012 and less intense competition, 3) New sensor hub product (potential $100m+ business), 4) Touch sensor – $50m 2013 guidance maintained."
Q3 sales and EPS lowered by 8%, FY12 EPS estimate cut from $0.25 to $0.17 and FY13 from $0.51 to $0.47.
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 $5.86 yesterday, with a 52 week range of $5.80-$12.56.
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Analyst, Steven Eliscu, said, "Atmel 2Q sales were slightly below our estimate but 3Q guidance for flat sales and down gross margin was disappointing...We maintain our Buy, as we still expect key product cycles to drive growth: 1) Non-touch microcontrollers with a focus around cost-efficient and very low-power 8-bit products at the low-end, and leading-edge ARM-based products at the high-end, 2) Touch controller leadership at the high-end where we expect growth from 2012 and less intense competition, 3) New sensor hub product (potential $100m+ business), 4) Touch sensor – $50m 2013 guidance maintained."
Q3 sales and EPS lowered by 8%, FY12 EPS estimate cut from $0.25 to $0.17 and FY13 from $0.51 to $0.47.
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 $5.86 yesterday, with a 52 week range of $5.80-$12.56.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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