UBS Maintains a 'Buy' on Atmel (ATML); Cutting Estimates on Limited 2H Recovery
Tweet
Share
E-mailGet Alerts ATML Hot Sheet
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
Join SI Premium – FREE
UBS maintains a 'Buy' on Atmel (NASDAQ: ATML) price target lowered from $15 to $12.50.
Analyst, Steven Eliscu, said, "We are constructive on Atmel on: 1) share gains in microcontrollers (MCUs), 2) sustainable leadership in touch controllers, 3) margin expansion. However, we believe macro weakness that resulted in sharp inventory reductions seen over the past 3 quarters may continue to negatively impact Atmel in 2H12 based on a more muted recovery in non-touch (~80% of sales)."
Eliscu has reassessed his view of ATML's growth, taking a more cautious stance in the 2H recovery, citing weakness in Europe and China, which is approx. 50% of the company's sales. Therefore, Eliscu cuts FY12 EPS estimate from $0.33 to $0.30 and FY12 from $0.72 to $0.66.
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 $7.26 yesterday.
Analyst, Steven Eliscu, said, "We are constructive on Atmel on: 1) share gains in microcontrollers (MCUs), 2) sustainable leadership in touch controllers, 3) margin expansion. However, we believe macro weakness that resulted in sharp inventory reductions seen over the past 3 quarters may continue to negatively impact Atmel in 2H12 based on a more muted recovery in non-touch (~80% of sales)."
Eliscu has reassessed his view of ATML's growth, taking a more cautious stance in the 2H recovery, citing weakness in Europe and China, which is approx. 50% of the company's sales. Therefore, Eliscu cuts FY12 EPS estimate from $0.33 to $0.30 and FY12 from $0.72 to $0.66.
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 $7.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Starts Aditya Birla Real Estate (ABREL:IN) at Buy
- JPMorgan Upgrades Amber Enterprises India Ltd (AMBER:IN) to Overweight
- JPMorgan Downgrades PLDT Inc. (TEL:PM) (PHI) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
