DA Davidson Downgrades ATMI Inc. (ATMI) to Neutral; Wafer Start Growth Expectation Moderating
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Price: $33.98 --0%
Rating Summary:
0 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
Rating Summary:
0 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
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DA Davidson downgraded ATMI Inc. (NASDAQ: ATMI) to Neutral. PT $23 (long-term $28)
DA Analyst said, "Based on our industry channel checks, we believe the June quarter and CY11 wafer start forecasts at chip companies and leading foundries have had some downward bias over the past two months. While both the June quarter and CY11 are still expected to be up meaningfully, we see growth assumptions moderating omewhat. On its Q1 conference call, ATMI had talked about 8%-13% year-over-ear growth in wafer starts with a bias towards the upper half; possibly in the 10%-13% range. We believe recent data shows a slightly more conservative view...Our CY11 and CY12 estimates of $1.18 on $425 million and $1.37 on $450 million remain unchanged but, with near-term cautiousness in the semiconductor space, we do not expect much upside."
For more ratings news on ATMI Inc. click here and for the rating history of ATMI Inc. click here.
Shares of ATMI Inc. closed at $21.08 yesterday.
DA Analyst said, "Based on our industry channel checks, we believe the June quarter and CY11 wafer start forecasts at chip companies and leading foundries have had some downward bias over the past two months. While both the June quarter and CY11 are still expected to be up meaningfully, we see growth assumptions moderating omewhat. On its Q1 conference call, ATMI had talked about 8%-13% year-over-ear growth in wafer starts with a bias towards the upper half; possibly in the 10%-13% range. We believe recent data shows a slightly more conservative view...Our CY11 and CY12 estimates of $1.18 on $425 million and $1.37 on $450 million remain unchanged but, with near-term cautiousness in the semiconductor space, we do not expect much upside."
For more ratings news on ATMI Inc. click here and for the rating history of ATMI Inc. click here.
Shares of ATMI Inc. closed at $21.08 yesterday.
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