Canaccord Genuity Maintains a 'Buy' on Atmel (ATML); Pre-announcement In-line with Sector When Allowing for Delayed Payment

Canaccord Genuity maintains a 'Buy' on Atmel (NASDAQ: ATML) price target of $11.00

Analyst, Bobby Burleson, said, "Atmel pre-announced lower than guided revenue for its Q4. The revenue shortfall was substantially exacerbated by an $11 million delayed payment from one of the company's Asian distributors. We continue to believe we are near a trough for orders and revenue for the company, and would be buyers on weakness and ahead of looming Win8 touch and a potential Kindle Fire win (large form-factor)."

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 $10.10 yesterday.

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