Atmel Stock Gaps Down On Today's Open (ATML)

NEW YORK ( TheStreet) -- Shares of Atmel Corporation (Nasdaq: ATML) were gapping down Thursday morning with an open price 10.5% lower than Wednesday's closing price. The stock closed at $8.99 Wednesday and opened today's trading at $8.05.

The average volume for Atmel has been 7.8 million shares per day over the past 30 days. Atmel has a market cap of $3.93 billion and is part of the technology sector and electronics industry. Shares are up 11% year to date as of the close of trading on Wednesday.

Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit (IC) products. The company has a P/E ratio of 13, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Atmel as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow. You can view the full Atmel Ratings Report.

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