Atomera (ATOM) Raised to Buy at Zacks Investment Research

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Atomera (NASDAQ:ATOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $4.25 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.84% from the stock’s current price.

According to Zacks, “Atomera Incorporated is involved in the business of developing, commercializing and licensing proprietary processes and technologies for the semiconductor industry. It developed Mears Silicon Technology (TM) for semiconductor transistors. Atomera Incorporated is headquartered in Los Gatos, California. “

Separately, ValuEngine lowered Atomera from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

Shares of NASDAQ:ATOM opened at $3.80 on Tuesday. Atomera has a 52-week low of $2.33 and a 52-week high of $6.63. The company has a market capitalization of $58.26 million, a PE ratio of -3.73 and a beta of 1.95.

Atomera (NASDAQ:ATOM) last announced its earnings results on Wednesday, May 1st. The technology company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. On average, research analysts expect that Atomera will post -0.82 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Financial Architects Inc increased its position in Atomera by 43.8% during the 4th quarter. Financial Architects Inc now owns 11,500 shares of the technology company’s stock valued at $33,000 after buying an additional 3,500 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Atomera during the 4th quarter valued at $47,000. Sigma Planning Corp purchased a new stake in Atomera during the 4th quarter valued at $55,000. BlackRock Inc. boosted its stake in Atomera by 21.9% during the 4th quarter. BlackRock Inc. now owns 37,563 shares of the technology company’s stock valued at $108,000 after purchasing an additional 6,745 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Atomera during the 3rd quarter valued at $124,000. 24.95% of the stock is owned by institutional investors.

Atomera Company Profile

Atomera Incorporated engages in developing, commercializing, and licensing proprietary materials, processes, and technologies for the semiconductor industry primarily in Europe and the Asia Pacific. The company's lead technology is Mears Silicon Technology, a thin film of reengineered silicon that can be applied as a transistor channel enhancement to CMOS-type transistors.

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