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UPDATE: FBR Capital Markets Reiterates Outperform Rating, Lowers PT on Atmel Corporation

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In a report published Monday, FBR Capital Markets reiterated its Outperform rating on Atmel Corporation (NASDAQ: ATML), but lowered its price target from $10.00 to $8.50.

FBR noted, “Business trends at Atmel seem difficult even despite the firm's weak 2Q12 financial guidance, with touch controller market share losses building, with Win8 Ultrabook and touch contribution questionable in 2012, and with management still not backing off its annual touch revenue forecast of $375 million. Additionally, industrial and automotive deterioration in response to macro weakness and China weakness are now incremental risks to the slope of Atmel's recovery in its microcontroller business.”

Atmel Corporation closed on Friday at $6.26.

Latest Ratings for ATML

DateFirmActionFromTo
Jan 2016SunTrust Robinson HumphreyMaintainsNeutral
Jan 2016Raymond JamesDowngradesOutperformMarket Perform
Oct 2015Canaccord Genuity

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Posted-In: FBR Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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