Market Overview

Morgan Stanley Sees Overall Numbers as Fine for Atmel

Related ATML
Atmel Unveils 32-bit Microcontroller Platform Setting A New Low-power Standard For IoT Applications
FBR Capital Upgrades Atmel

In a report published Thursday, Morgan Stanley analyst Craig Hettenbach reiterated an Overweight rating and $10.00 price target on Atmel (NASDAQ: ATML).

In the report, Morgan Stanley noted, “Atmel beat Q1 sales by $11mn, attributed mostly to a faster than expected recovery from its fab production issue. At the same time, its outlook for Q2, which previously assumed recouped sales from lost production, is $5mn below the Street. Altogether, 1H'14 sales are $6mn above expectations. Q1 GM of 44% was in line with the Street, although the outlook of 45.25% for Q2 is 20bp light. That said, Atmel remains committed to reaching 49% GM in Q4'14 and we stress that management's equity incentive comp is tied to this target.”

Atmel closed on Wednesday at $7.77.

Latest Ratings for ATML

DateFirmActionFromTo
Oct 2014FBR CapitalUpgradesMarket PerformOutperform
Aug 2014Imperial CapitalMaintainsOutperform
Aug 2014Bank of AmericaDowngradesBuyNeutral

View More Analyst Ratings for ATML
View the Latest Analyst Ratings

Posted-In: Craig Hettenbach Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (ATML)

Around the Web, We're Loving...

Get Benzinga's Newsletters