Collins Stewart Commnets on Atmel (ATML), Sees Losses to Melfas as Minor
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Price: $8.14 --0%
Rating Summary:
9 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Collins Stewart is maintaining its Buy rating and $18 price target on shares of Atmel (NASDAQ: ATML) as the company loses its tablet/smartphone market share to Melfas.
The firm believes that ATML has lost the refresh of the Samsung 7”, as well as the 8.9” Tab to Melfas. It also sees Melfas winning additional designs, at the expense of Atmel, with its latest generation touch controller on mid to high-end smartphones in the second half of 2011.
Collins Stewart notes that these are only minor near-term setbacks, but will have implications on the company's total revenues. The firm forecasts that higher content from the 10.1” Galaxy Tab, which contains 4 chips as compared to 1-2 chips on the 7” and 8.9” Tabs, will offset the revenue loss mostly.
The company continues to be the the preferred supplier securing the highest volume flagship SKUs at Samsung, which includes the Galaxy S2 and the 10.1” tablet.
For more ratings news on Atmel click here and for the rating history of Atmel click here.
Shares of Atmel closed at $13.69 yesterday.
The firm believes that ATML has lost the refresh of the Samsung 7”, as well as the 8.9” Tab to Melfas. It also sees Melfas winning additional designs, at the expense of Atmel, with its latest generation touch controller on mid to high-end smartphones in the second half of 2011.
Collins Stewart notes that these are only minor near-term setbacks, but will have implications on the company's total revenues. The firm forecasts that higher content from the 10.1” Galaxy Tab, which contains 4 chips as compared to 1-2 chips on the 7” and 8.9” Tabs, will offset the revenue loss mostly.
The company continues to be the the preferred supplier securing the highest volume flagship SKUs at Samsung, which includes the Galaxy S2 and the 10.1” tablet.
For more ratings news on Atmel click here and for the rating history of Atmel click here.
Shares of Atmel closed at $13.69 yesterday.
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