Collins Stewart Reports on Atmel Corporation Ahead of 2Q Earnings

Collins Stewart has published a research report on Atmel Corporation ATML ahead of the company's reporting of 2Q results. In the report, Collins Stewart writes, "While several recent peers including FSL, MCHP, and LLTC have guided Q3 down q/q, we still expect ATML to guide for seasonality albeit slightly below consensus with strong growth in maXTouch offset by subseasonal core MCU growth. We anticipate Q3'11 revenue guidance will bracket consensus at the high end, which we believe will be enough to meet market expectations." Collins Stewart maintains its Buy rating and $18 price target on Atmel. Atmel Corporation closed Friday at $12.10.