Atmel (Nasdaq: ATML) is expected to report Q1 earnings on May 1. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Atmel's revenues will wane -10.2% and EPS will shrink -62.5%.

The average estimate for revenue is $321.2 million. On the bottom line, the average EPS estimate is $0.03.

Revenue details
 Last quarter, Atmel logged revenue of $345.1 million. GAAP reported sales were 10% lower than the prior-year quarter's $383.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.07. GAAP EPS were -$0.03 for Q4 against $0.07 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 38.1%, 1,000 basis points worse than the prior-year quarter. Operating margin was -0.1%, much worse than the prior-year quarter. Net margin was -3.6%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.43 billion. The average EPS estimate is $0.31.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 376 members out of 414 rating the stock outperform, and 38 members rating it underperform. Among 82 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 76 give Atmel a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Atmel is outperform, with an average price target of $6.18.

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