Nomura Securities Reiterates a 'Buy' on Atmel (ATML); Q1 Preview
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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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Nomura Securities reiterates a 'Buy' on Atmel (NASDAQ: ATML) price target of $12.00.
Analyst, Sidney Ho, said, "Atmel will report 1Q12 results after the market close on Wednesday, May 2. We expect in-line results. Our estimates are for revenue of $353mn and adjusted EPS of $0.07 (vs. consensus at $352mn and $0.08). We expect Q2 guidance to be better than consensus of 10% growth. Our recent checks suggest that Atmel is maintaining its share in touch in the near term, although pricing is more competitive. At 9x 2013E EPS, shares look inexpensive. Given the stock’s underperformance in the past month (down 15%, vs. down 6% for SOX), we believe an in-line guidance will be enough to drive a relief rally for the stock."
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 $8.78 yesterday.
Analyst, Sidney Ho, said, "Atmel will report 1Q12 results after the market close on Wednesday, May 2. We expect in-line results. Our estimates are for revenue of $353mn and adjusted EPS of $0.07 (vs. consensus at $352mn and $0.08). We expect Q2 guidance to be better than consensus of 10% growth. Our recent checks suggest that Atmel is maintaining its share in touch in the near term, although pricing is more competitive. At 9x 2013E EPS, shares look inexpensive. Given the stock’s underperformance in the past month (down 15%, vs. down 6% for SOX), we believe an in-line guidance will be enough to drive a relief rally for the stock."
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 $8.78 yesterday.
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