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Pastimes : Home on the range where the buffalo roam

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To: Sig who wrote (5192)	12/27/2001 10:36:59 AM
From: im a survivor	Read Replies (1) of 13815

Atmel surges in pre-open on upgrade (ATML) By Tomi Kilgore Shares of Atmel (ATML) are charging 76 cents, or 11 percent higher, to $7.38 in pre-open trading. Analyst Christopher Chaney at A.G. Edwards upgraded the chipmaker's stock to "strong buy" from "buy," given that it is trading at a "steep discount" to its peer group. He believes concerns over flash memory pricing have hurt the stock more than it should have. "While Atmel does produce flash memory, we believe the sell-off in the shares suggests that 100 percent of Atmel's sales is in flash, which is not the case," Chaney said in a note to clients. He said that in fact, flash memory represented approximately 18 percent of Atmel's sales. "We believe the worst is now behind Atmel in terms of revenue decline," Chaney added. "In our opinion, the current share price now assumes the worst, and the downside risk from current levels is limited."

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