ATML
Atmel Corporation
TMT, Event Driven/Special Sit
08/04/2014
Presented
| Date | 08/01/2014 |
| Price | $8.39 |
| Market Cap | $3.53B |
| Ent Value | $3.27B |
| P/E Ratio | 114.55x |
| Book Value | $2.08 |
| Div Yield | 1.8% |
| Shares O/S | 420.96M |
| Ave Daily Vol | 5,130,000 |
| Short Int | 1.45% |
Current
| Price | $8.14 |
| Market Cap | $3.45B |
| Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit (IC) products. The company’s Microcontrollers segment provides various proprietary and non-proprietary architectures, such as AVR 8-bit and 32-bit products, ARM-based products, Atmel's 8051 8-bit products, and XSense products, as well as capacitive touch products, including maXTouch and QTouch. Its Nonvolatile Memories segment offers electrically erasable programmable read-only and erasable programmable read-only memory devices. The company’s Radio Frequency and Automotive segment provides automotive electronics, as well as wireless and wired devices for industrial, consumer, and automotive applications. This segment also offers foundry services. Its Application Specific Integrated Circuits segment provides custom application specific ICs designed to meet specialized single-customer requirements of high performance devices in a range of specific applications. This segment provides hardware security for embedded digital systems; and products for military and aerospace applications, as well as develops application specific standard products for space applications, power management, and secure crypto memory products. The company sells its products directly, as well as through distributors to original equipment manufacturers. It operates primarily in the United States, Asia, Europe, South Africa, and Central and South America. Atmel Corporation was founded in 1984 and is headquartered in San Jose, California. |
Publicly traded companies mentioned herein: Atmel Corporation (ATML), Microchip Technology (MCHP), Apple Inc (AAPL), Skyworks Solutions Inc (SWKS)
Highlights
Given the emergence of the ‘Internet of Things’ (IoT), demand for microcontrollers (which live in every wireless device) should continue to grow at a mid-teens (%) rate. The presenter is long shares of Atmel (ATML) on this basis, but also believes there is potential upside from M&A activity as ATML is among few players that specialize in this niche. The need for small, cheap, low power microprocessors directly benefits the likes of ATML and Microchip, and “investors looking for long-term value in chips should consider investing in ATML at present levels (~$8.50).”
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