Atmel Receives $10.04 Consensus PT from Analysts (NASDAQ:ATML)
A number of analysts have recently weighed in on ATML shares. Analysts at Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Atmel in a research note on Friday. Analysts at SunTrust reiterated a “buy” rating and set a $12.00 price target (up previously from $10.00) on shares of Atmel in a research note on Thursday, June 25th. Analysts at Morgan Stanley raised their price target on shares of Atmel from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Analysts at Wedbush reiterated an “outperform” rating and set a $12.00 price target (up previously from $10.00) on shares of Atmel in a research note on Friday, June 12th. Finally, analysts at TheStreet upgraded shares of Atmel from a “hold” rating to a “buy” rating in a research note on Monday, June 8th.
Shares of Atmel (NASDAQ:ATML) traded down 1.52% during mid-day trading on Monday, hitting $9.05. The stock had a trading volume of 8,986,253 shares. Atmel has a 52-week low of $6.32 and a 52-week high of $10.50. The stock has a 50-day moving average of $9.65 and a 200-day moving average of $8.67. The company has a market cap of $3.78 billion and a P/E ratio of 82.27.
Atmel (NASDAQ:ATML) last announced its earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $316.90 million for the quarter, compared to the consensus estimate of $315.20 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts predict that Atmel will post $0.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Friday, May 15th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, May 13th.
In other Atmel news, SVP Robert E. Valiton, Jr. sold 2,889 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $8.74, for a total value of $25,249.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott M. Wornow sold 15,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $8.85, for a total value of $132,750.00. The disclosure for this sale can be found here.
Atmel Corporation is engaged in designing, developing and supplying of microcontrollers. The Company offers a portfolio of touch products, which integrate its microcontrollers with touch-focused intellectual property (NASDAQ:ATML). It also designs and sells products, which are complementary to its microcontroller, including nonvolatile memory and Flash memory products, radio frequency (RF) and mixed-signal components and application specific integrated circuits (IC). Its semiconductors also enable applications in many other fields, such as smart-metering for utility monitoring and billing, buttons, sliders and wheels found on the touch panels of appliances, various aerospace, industrial and military products and systems, and electronic-based automotive components, like keyless ignition, access, engine control, lighting and entertainment systems. It operates in four segments: Microcontrollers, Nonvolatile Memories, RF and Automotive, and Application Specific Integrated Circuit (ASIC).