Wedbush Securities Sees Mixed Factors For Atmel

In a report published Friday, Wedbush Securities analyst Betsy Van Hees reiterated an Outperform rating and $10.00 price target on Atmel Corporation (NASDAQ: ATML).

In the report, Wedbush Securities noted, "We met with Atmel's (ATML) SVP and CFO Steve Skaggs and Senior Director of IR Peter Schuman at our 12th Semiconductor Bus Tour yesterday in Silicon Valley. ATML noted its end markets were playing out largely in line with expectations for typical seasonality impacted by declining EOL/legacy, lower Sensor Hub, and exit of its XSense business. ATML said that it saw normal slowdown in Asia during Chinese New Year (CNY) as well as the typical snap back following CNY, in line with the rebound in orders largely in line with expectations."

Atmel closed on Thursday at $8.41.