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Atmel Corporation

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Atmel reported dismal third-quarter 2015 results with a significant year-over-year decline in revenues and GAAP earnings, although adjusted earnings of $0.05 matched with the Zacks Consensus Estimate. Revenues were adversely affected by foreign currency exchange rates and a general slowdown in the overall semiconductor industry. The company offered a weak revenue outlook for fourth-quarter 2015 due to waning market demand and continued currency woes. Early this year, Microchip has inked a definitive agreement to acquire Atmel for $8.15 per share. As the sustainability of the company is currently at stake, investors should be better off if they avoid these shares. However, Atmel has been attempting to build up its Internet of Things capabilities by acquiring multiple connectivity technologies, as touch-sensing technology is expected to be one of the major growth drivers for its microcontroller business.

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