Market Overview

UPDATE: Bank Of America Downgrades Atmel On 'Muted Growth Prospects'

Related ATML
UPDATE: Bank Of America Downgrades Atmel
Bank Of America Analyst Sees Slower FY15 Growth For Semiconductor Group

In a note published Thursday morning, Bank of America analyst Vivek Arya downgraded shares of Amtel (NASDAQ: ATML) from Buy to Neutral and lowered the price target from $10 to $9.

Looking forward, Arya noted concerns regarding:

  • Continued volatility from smartphones/tablet touch IC
  • Inconsistent results and guidance compared to Street expectations
  • Limited probability of accelerating buyback or initiating a dividend
  • Limited room for multiple expansion
  • A higher 2016 tax-rate which could constrain EPS growth

In conjunction with the downgrade, Arya has lowered his pro-forma EPS estimates for 2014-2016 from $0.42, $0.61, and $0.67 to $0.39, $0.58, and $0.60.

Latest Ratings for ATML

DateFirmActionFromTo
Dec 2014Bank of AmericaDowngradesNeutralUnderperform
Oct 2014FBR CapitalUpgradesMarket PerformOutperform
Aug 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for ATML
View the Latest Analyst Ratings

Posted-In: Bank of America Vivek AryaAnalyst Color Downgrades Price Target Analyst Ratings

 

Related Articles (ATML)

Around the Web, We're Loving...

Get Benzinga's Newsletters