UPDATE: Topeka Capital Markets Initiates Coverage on Atmel Corporation with a Buy Rating Based on Margin Recovery

In an article published Thursday, Topeka Capital Markets Suji De Silva initiated coverage on Atmel Corporation, ATML, a manufacturer of semiconductors, with a Buy rating and a price target of $8.50 on recovering markets for semiconductors.

In the report, De Silva pointed out, "We also see ATML as well positioned for continued microcontroller share gains and ultrabook/tablet touch screen ramps."

Atmel Corporation closed on Wednesday at $7.22.