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Atmel Corporation (ATML)

- NASDAQ
  • Feb. 5, 2014, 6:41 PM
    • Atmel (ATML) has guided on its Q4 CC for Q1 revenue of $320M-$330M, below a $343.3M consensus. The chipmaker is also guiding for Q2 revenue of $356M-$366M vs. a $363.1M consensus.
    • Shares have added to the AH losses they saw in response to Atmel's Q4 miss. The company posted a Q4 gross margin of 43.7% (+60 bps Q/Q and +210 bps Y/Y), and bought back $24.2M worth of shares during the quarter.
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  • Feb. 5, 2014, 4:27 PM
    • Atmel Corporation (ATML): Q4 EPS of $0.10 misses by $0.01.
    • Revenue of $353.2M (+2.4% Y/Y) misses by $4.17M.
    • Press Release
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  • Feb. 5, 2014, 12:10 AM
  • Feb. 4, 2014, 5:35 PM
  • Dec. 31, 2013, 4:36 PM
    • Less than 24 hours after announcing CEO Reed Killion has resigned, UniPixel (UNXL) discloses COO Peter Shin has also left. The company has begun a search for a replacement. (8-K)
    • Shares are now down 19% since news of Killion's resignation first broke.
    • Oppenheimer has provided a cautiously optimistic take on Killion's departure, stating the hiring of an "operational oriented manager" would boost the firm's confidence in UniPixel. At the same time, Oppenheimer sees additional room for downside (up to a book value of ~$5/share) until more clarity is provided on future leadership.
    • UniPixel's struggles could make life easier for metal mesh touch sensor rival Atmel (ATML), which is working to ramp production of its XSense touch sensors.
    | 6 Comments
  • Dec. 5, 2013, 1:55 PM
    • SA contributor Graycell Advisors, who has been bullish on UniPixel (UNXL +5.6%) for a while, thinks it's "fairly clear" the company has been "making meaningful progress and achieving key capacity milestones" in its efforts to ramp InTouch sensor production, in spite of concerns to the contrary.
    • Graycell argues UniPixel's "production risk" in the wake of its initial purchase orders, and that worries about lamination yields and supply issues are unwarranted.
    • The author does admit recent touch sensor price erosion is worrisome, and estimates Atmel (ATML -1.2%) ha a 2 to 3-month lead on UniPixel in commercializing its metal mesh sensors, but also argues UniPixel's additive manufacturing process provides it with a cost advantage.
    • An eye-popping 67% of the float was shorted as of Nov. 15.
    | 1 Comment
  • Nov. 27, 2013, 8:05 AM
    • FBR reiterates its Outperform rating and $8.25 price target on Atmel (ATML) after the company's XSense secured the touch sensor in the HP Omni 10.1 (HPQ).
    • "While we do not expect this to be a high volume SKU, we believe it's meaningful as it indicates HP has tested and validated Atmel's metal mesh technology. We believe this opens the door to a growing partnership and may indicate penetration beyond just tablets and into HP's mainstream PC line. Furthermore, we believe Atmel's Windows 8 certification, announced a few weeks ago, will help the company secure a meaningful percentage of Bay Trail tablets coming to market over the next few months. Additionally, Atmel has secured the touch controller in Sony's PS4 game paddles, a socket that we believe could provide $15 million annually."
    • "Overall for Atmel, we think the Street underestimates all, or a portion, of the following: (1) new sensor hub opportunities; (2) a strong cyclical recovery in the core MCU business, also benefiting the ASIC and RF units; (3) Win8 touch PC wins; and (4) XSense demand that we believe is growing in late 2013 and, more importantly, in 2014. Additionally, the unwinding of the take-or-pay LFoundry agreement and higher utilizations should drive gross margin expansion of approximately 400 bps over the next six quarters, benefiting the bottom line."
    • ATML closed at $7.53 yesterday, with a 52-week range of $4.92-8.40.
    | 8 Comments
  • Nov. 11, 2013, 5:43 PM
    • Shares of Atmel (ATML) tick up 1.3% AH after Oppenheimer initiates coverage on the stock with an Outperform rating and PT of $10 (implying a potential upside of 41%).
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  • Nov. 11, 2013, 10:39 AM
    • Pac Crest thinks Synaptics (SYNA +3.3%), already the touch controller supplier for Samsung's Galaxy S4, has won the touch controller slot for the Galaxy S5, which it expects will launch in early Q2.
    • The firm asserts Synaptics' Hover tech, which enables touch-free gestures on the S4 and Samsungs' Galaxy Note hardware, allowed the company to beat out rivals Atmel (ATML -0.2%), Cypress (CY -1.8%), and South Korea's Melfas, who it thinks can't offer similar functionality. The S4 and Note design wins have contributed to the triple-digit mobile sales growth Synaptics has seen in recent quarters.
    • Shares recently sold off due to soft Dec. quarter guidance; at the time, CEO Rick Bergman stated new mobile product launches due in early 2014 would give his company a lift.
    | 1 Comment
  • Nov. 8, 2013, 10:31 AM
    • Craig-Hallum, which once had a $58 PT on UniPixel (UNXL -20.8%), has cut shares to Neutral following the touch sensor film developer's Q3 report.
    • During the CC (transcript), CH analyst Mike Malouf pressed UniPixel CEO Reed Killion on several issues, including price competition from Chinese vendors, the start of InTouch film production following UniPixel's recent purchase order from a major PC OEM, and its revenue split with manufacturing partner Kodak.
    • Killion stated pricing for large form factor sensor film remains strong, but that price pressure exists in the small form factor space; that could also be an issue for Atmel (ATML -0.3%). He also suggested more testing will take place before commercial InTouch production starts, and that UniPixel is evenly splitting revenue with Kodak.
    • Also: Multiple analysts questioned UniPixel regarding its InTouch yields (the company doesn't provide specific numbers), and the volumes attached to recent orders. Killion mentioned some of UniPixel's orders from parties other than its major PC OEM partner will be "in the 100,000 to 150,000 units a year" range.
    | 1 Comment
  • Oct. 31, 2013, 5:58 PM
    • Market-pleasing Q3 reports and better-than-feared guidance from Atmel (ATML +10.6%), Intersil (ISIL +4.2%), International Rectifier (IRF +11.4%), Microchip (MCHP +7.5%), Cavium (CAVM +8.9%), and Skyworks (previous) helped chip stocks trader higher (SOXX +0.6%) on a down day for tech
    • The gains followed a difficult month that saw many chipmakers (including a number with strong mobile exposure) provide disappointing Q4 guidance. While the guidance provided by the aforementioned companies wasn't stellar, it was better than feared in light of recent forecasts.
    • Atmel guided on its CC (transcript) for Q4 revenue of $350M-$364M, below a $364.9M consensus.
    • Intersil expects Q4 revenue of $142M-$148M and EPS of $0.16-$0.18 vs. a consensus of $149.1M and $0.17.
    • Microchip, viewed by some as an industry bellwether, was able to deliver in-line guidance: the company expects FQ3 revenue of $463.1M-$492.7M and EPS of $0.57-$0.63 vs. a consensus of $476.9M and $0.59.
    • International Rectifier expects FQ2 revenue of $260M-$270M vs. a $265M.1M consensus.
    • Cavium guided on its CC (transcript) for 1%-4% Q/Q revenue growth and EPS of $0.29-$0.31; the consensus is for 5% growth and EPS of $0.30.
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  • Oct. 31, 2013, 9:59 AM
    • Atmel (ATML +9.1%) has been upgraded to Outperform by Wedbush after beating Q3 revenue estimates and adding $300M to its buyback plan.
    • Microchip (MCHP +5.8%) has been upgraded to Buy by Mizuho in the wake of its FQ2 beat.
    • Cavium (CAVM +6.5%) has been upgraded to Outperform by Oppenheimer following its Q3 beat.
    • Arris (ARRS +2.7%) has been upgraded to Overweight by Stephens after beating Q3 estimates and issuing solid guidance.
    • UMC (UMC -1.9%) has been cut to Neutral by BofA a day after posting its Q3 report.
    • MTS (MBT -2%) has been cut to Neutral by Citi, and to Sell by UBS.
    • Jabil (JBL -0.9%) has been cut to Buy from Strong Buy by Needham.
    • Itron (ITRI -5.6%) has been cut to Neutral by Janney, and upgraded to Hold by Brean, following its Q3 miss.
    • Garmin (GRMN -4.2%) has been cut to Sector Perform by Raymond James a day after posting its Q3 results.
    • MagnaChip (MX -1.2%) has been cut to Neutral by UBS two days after delivering mixed Q3 results.
    • Digital Realty (DLR -2.2%) has been cut to Hold by Stifel two days after providing soft guidance. Raymond James downgraded shares yesterday.
    • Carbonite (CARB -9.1%) has been cut to Sector Perform by Pac Crest after providing below-consensus revenue guidance to go with a Q3 beat.
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  • Oct. 31, 2013, 9:13 AM
    | 1 Comment
  • Oct. 30, 2013, 6:18 PM
    • In tandem with its Q3 results, Atmel (ATML) announces it's adding $300M to its buyback program. Together with the funds remaining on an existing $700M program, Atmel is free to spend nearly $364M on buybacks. That's good for repurchasing 13% of outstanding shares at current levels.
    • Shares +1.2% AH following the Q3 report and the buyback announcement. Atmel posted a gross margin of 43.1% in Q3, +50 bps Q/Q and -60 bps Y/Y. The chipmaker expects further Q/Q margin expansion in Q4, but also says it's dealing with "a challenging industry environment."
    • R&D spend rose 11% Y/Y in Q3 to $66.8M. But SG&A spend fell 18% to $55.8M, thanks partly to job cuts. $34.4M was spent on buybacks.
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  • Oct. 30, 2013, 4:08 PM
    • Atmel (ATML): Q3 EPS of $0.09 in-line.
    • Revenue of $356.3M beats by $6.23M. (PR)
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  • Oct. 30, 2013, 12:10 AM
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Company Description
Atmel Corp designs and manufactures microcontrollers, capacitive touch solutions, logic, mixed-signal, nonvolatile memory, radio frequency (RF) components and application specific integrated circuits.