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What: Shares of microcontroller maker Atmel
So what: Adjusted earnings per share of $0.25 easily passed analyst expectations of $0.17, and revenue of $458 million beat estimates of $436.1 million. Revenue outlook of $440 million to $463 million next quarter easily passed estimates of $420 million.
Now what: Microcontroller sales were the big driver this quarter and are expected to help overcome a seasonally weak quarter next quarter. Atmel has been on a tear, rising consistently over the last six months. Buoyed by two analyst upgrades today, the momentum should continue. I am bullish on today's news and think improving sales of touchscreens will help the company continue to outperform going forward.
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