Canaccord Genuity Reiterates a 'Buy' on Atmel (ATML); No Imminent Threat to Touch Opportunity
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Price: $8.14 --0%
Rating Summary:
9 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Atmel (NASDAQ: ATML) price target lowered from $13 to $11.
Canaccord analyst, Bobby Burleson, said, "We would buy shares of Atmel ahead of several positive catalysts, including rebounding touch revenue expected in Q1, buzz likely generated by customer announcements at Mobile World Congress late Feb/early March, and Win8 ramp in slated for H2 of C2012. A potential Kindle Fire (Nasdaq: AMZN) win could provide an additional catalyst and we note multiple versions of the device are likely ship in C2012 with improved touch."
"We also like what we see at CES: S series controller family maintaining a performance lead for next gen of design wins, maXStylus with concurrent stylus- finger touch recognition, and proliferation of touch ino non-smartphone/tablet devices including autos and ultrabook. Separately, Nvidia's (Nasdaq: NVDA) Direct Touch does not appear to reduce Atmel's TAM (or that of other suppliers), in our view, given substantial analog processing performed outside of the baseband/apps processor."
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 $8.90 yesterday.
Canaccord analyst, Bobby Burleson, said, "We would buy shares of Atmel ahead of several positive catalysts, including rebounding touch revenue expected in Q1, buzz likely generated by customer announcements at Mobile World Congress late Feb/early March, and Win8 ramp in slated for H2 of C2012. A potential Kindle Fire (Nasdaq: AMZN) win could provide an additional catalyst and we note multiple versions of the device are likely ship in C2012 with improved touch."
"We also like what we see at CES: S series controller family maintaining a performance lead for next gen of design wins, maXStylus with concurrent stylus- finger touch recognition, and proliferation of touch ino non-smartphone/tablet devices including autos and ultrabook. Separately, Nvidia's (Nasdaq: NVDA) Direct Touch does not appear to reduce Atmel's TAM (or that of other suppliers), in our view, given substantial analog processing performed outside of the baseband/apps processor."
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 $8.90 yesterday.
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