Atmel Price Target Cut to $10.00 (ATML)
Equities researchers at Wedbush decreased their price objective on shares of Atmel (NASDAQ:ATML) from $12.00 to $10.00 in a research note issued to investors on Wednesday, Market Beat reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 18.76% from the company’s current price.
Several other research analysts also recently issued reports on the stock. TheStreet raised shares of Atmel from a “hold” rating to a “buy” rating in a report on Monday, June 8th. Morgan Stanley upped their target price on shares of Atmel from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. SunTrust reissued a “buy” rating and issued a $12.00 price objective (up from $10.00) on shares of Atmel in a research note on Thursday, June 25th. Topeka Capital Markets restated a “buy” rating and set a $9.00 target price (down previously from $10.00) on shares of Atmel in a research report on Wednesday. Finally, Needham & Company LLC lowered their price objective on shares of Atmel from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Atmel has an average rating of “Buy” and an average target price of $9.66.
Atmel (NASDAQ:ATML) traded down 0.83% during mid-day trading on Wednesday, reaching $8.35. The company had a trading volume of 864,104 shares. Atmel has a 12-month low of $8.31 and a 12-month high of $8.47. The firm has a 50-day moving average price of $9.50 and a 200 day moving average price of $8.69. The firm has a market capitalization of $3.49 billion and a price-to-earnings ratio of 75.91.
Atmel (NASDAQ:ATML) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by $0.02. During the same quarter last year, the company posted $0.09 EPS. The company had revenue of $306.35 million for the quarter, compared to analyst estimates of $320.04 million. The company’s revenue was down 13.8% compared to the same quarter last year. Analysts expect that Atmel will post $0.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be distributed on Thursday, September 24th. Shareholders of record on Monday, September 14th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 10th.
In other news, SVP Robert E. Valiton, Jr. sold 2,889 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $8.74, for a total transaction of $25,249.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott M. Wornow sold 15,000 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $8.85, for a total transaction of $132,750.00. The disclosure for this sale can be found here.
Atmel Corporation is a designer, developer and provider of microcontrollers. The Company operates through four sections: Multi, Nonvolatile Memory, Automotive and Microcontroller -Market and Other. The Microcontroller section includes the Organization ‘s general purpose microcontroller and microprocessor families, AVR 8-bit and 32-bit products, Atmel SMART ARM based products, its 8051 8-bit goods, and commercial wireless products that are designated, amongst others. The Nonvolatile Memory section contains electrically erasable programmable read only (NASDAQ:ATML), erasable programmable read-only memory (EPROM) devices and protected cryptographic products. The Automotive section comprises devices for automotive electronic equipment, including products. The Multi-Market along with Other segment includes application specific and regular products for aerospace applications.