Atmel (ATML) is a semiconductor company that has been gradually restructuring itself to realign itself with the reality of the semiconductor market. Once the proud owner of several semiconductor fabrication facilities ("fabs") and a player in a smörgåsbord of areas in the semiconductor business, the company has spent the last couple of years restructuring itself to focus on its microcontroller and touch-controller businesses.
The last year has been tough for Atmel as its revenues and earnings continued their double-digit declines, but there is money to be made in a turnaround story if the fundamentals show signs that they have bottomed out.
The broad questions that investors now need to ask are:
- Can the company return to (GAAP)