DA Davidson Upgrades ATMI Inc. (ATMI) to Buy; Channel Checks Indicate Improving Wafer Starts
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Price: $33.98 --0%
Rating Summary:
0 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
0 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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DA Davidson upgraded ATMI Inc. (NASDAQ: ATMI) from Neutral to Buy, price target raised to $26.00.
Analyst, Avinash Kant, said, "Our channel checks indicate that Q1 wafer starts at the leading Taiwanese foundry TSMC (NYSE: TSM) accelerated, and are now expected to be up close to 8%-10% sequentially compared to the previous expectation of up 5%. Similarly, the second leading Taiwanese foundry UMC (NYSE: UMC) had guided for a marginal increase in wafer starts on its Q4:CY11 conference call, but now may see wafer starts up more than 5% in Q1. Positive trends are also extending into Q2, as wafer starts at the Taiwanese foundries are now expected to grow by close to 10% sequentially. TSMC and UMC combined are ~20% of ATMI’s business."
"With improving wafer starts expectations, we are raising our CY12 and CY13 estimates from $1.42 on $445 million and $1.69 on $475 million to $1.45 on $448 million and $1.75 on $480 million, respectively."
For an analyst ratings summary and ratings history on ATMI Inc. click here. For more ratings news on ATMI Inc. click here.
Shares of ATMI Inc. closed at $21.85 yesterday.
Analyst, Avinash Kant, said, "Our channel checks indicate that Q1 wafer starts at the leading Taiwanese foundry TSMC (NYSE: TSM) accelerated, and are now expected to be up close to 8%-10% sequentially compared to the previous expectation of up 5%. Similarly, the second leading Taiwanese foundry UMC (NYSE: UMC) had guided for a marginal increase in wafer starts on its Q4:CY11 conference call, but now may see wafer starts up more than 5% in Q1. Positive trends are also extending into Q2, as wafer starts at the Taiwanese foundries are now expected to grow by close to 10% sequentially. TSMC and UMC combined are ~20% of ATMI’s business."
"With improving wafer starts expectations, we are raising our CY12 and CY13 estimates from $1.42 on $445 million and $1.69 on $475 million to $1.45 on $448 million and $1.75 on $480 million, respectively."
For an analyst ratings summary and ratings history on ATMI Inc. click here. For more ratings news on ATMI Inc. click here.
Shares of ATMI Inc. closed at $21.85 yesterday.
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