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Tuesday, Feb 26
A downgrade to Market Perform from FBR is pressuring Atmel (ATML -2.3%) shares. The firm is...
A downgrade to Market Perform from FBR is pressuring Atmel (ATML -2.3%) shares. The firm is worried about valuation and soft PC touchscreen controller sales - sales of touch-enabled Windows 8 hardware have underwhelmed thus far, but Microsoft, Intel, and OEMs are committed to growing penetration rates. Rival Cypress (CY +2.4%), which just announced its controllers are used in the 2013 Toyota Avalon, is heading in the opposite direction. Update: FBR is also worried about a transition to cheaper, single-chip, PC touch controller solutions, and Atmel's lack of an in-cell controller.