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   Technology StocksAtmel - the trend is about to change


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To: JakeStraw who wrote (13535)7/16/2006 11:39:18 AM
From: Dave O.
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< Like I said, if business at Atmel was so good they would have no reason to sell assets and cut costs... >

Huh? ANY company that's focused on the bottom line is ALWAYS looking at ways to potentially cut costs. Further, if business was weak or the outlook gloomy why would ATML mgt. have rebuffed the takeover offer recently? My guess is that management feels the company is worth MORE than what was offered.

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To: Dave O. who wrote (13538)7/16/2006 1:42:47 PM
From: BWAC
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<My guess is that management feels the company is worth MORE than what was offered.>

My guess is they were looking out for their own fat salaries and the granting of some more options to themselves for absolute failure to grow the business or generate a return for shareholders the last 10 years. But hey, thats just my opinion.

You can put ATML in the category of a company that just needs to go away. Either thru consolidation or ceasing business and returning the capital to shareholders.

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To: Ian@SI who wrote (13536)7/17/2006 11:26:48 AM
From: BMcV
   of 13565
 
<<Atmel will retain rights to its patented finger print scanning recognition
technology.>>

Spedread this as "Atmel will retain rights to its patented finger pointing recognition technology."

Now that would be worth some $$!

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To: BWAC who wrote (13539)7/17/2006 1:23:54 PM
From: Dave O.
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< My guess is they were looking out for their own fat salaries and the granting of some more options to themselves for absolute failure to grow the business or generate a return for shareholders the last 10 years. >

Actually in the last 10 years one could have made some good $$$ with ATML. 10 years ago (7/96) it was at $6.81 (split adjusted) and was near $30 by 2000. That's 300+%. Semi's are cyclical and not buy & hold IMO. My perspective may be different as I bought in the past couple years in the $2's and $3's and sold into strength and then rebuy on weakness. Not many stocks I'd hold long term, most are trading vehicles IMO.

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To: Dave O. who wrote (13541)7/25/2006 12:41:13 PM
From: sixty2nds
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09:01 ATML Atmel Postpones Second Quarter Earnings Release (4.82 )

Co announced today that it has postponed its Q2 2006 earnings announcement and conference call previously scheduled for July 25, 2006. The Co also announced that the Audit Committee of the Co's Board of Directors has initiated an independent investigation regarding timing of past stock option grants and other potentially related issues. The Co will not announce its Q2 results or file its 10-Q for the quarter ended June 30, 2006 until after the completion of the investigation. The Co does not expect the investigation to be completed prior to the due date for the Co's Q2 10-Q, August 9, 2006, or the extended due date of August 14, 2006. Atmel executives will refrain from commenting further until the independent investigation is concluded.

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From: sixty2nds8/7/2006 9:45:53 AM
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09:02 ATML Atmel: George Perlegos, Gust Perlegos and two additional officers terminated; CEO appointed (4.67 )

Co announces that its Board of Directors has appointed Steven Laub, currently a director of ATML and over 15-year industry veteran, as the co's President and Chief Executive Officer, effective immediately. Mr. Laub's appointment follows the unanimous decision of the Board's independent directors to terminate George Perlegos, as President and CEO; Gust Perlegos, as Exec VP, Office of the President; the VP and General Counsel and Assistant Secretary; and the VP of Planning and Information Technology. The Board's decision was made following an independent investigation into allegations regarding the misuse of corporate travel funds. George Perlegos and Gust Perlegos have been asked to resign as directors of the co.

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From: sixty2nds8/7/2006 2:37:43 PM
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11:23 ATML Atmel: New managers could accelerate restructuring actions - Wedbush Morgan (4.80 +0.13) -Update-

Wedbush Morgan notes that ATML announced that it has terminated Chairman and CEO George Perlagos, Exec VP Gust Perlagos, VP and General Counsel, and the VP of Planning and IT for misuse of corporate travel funds. Firm says today's announcement increases the likelihood that ATML shareholders and co mgmt would be more open to a takeover offer, which could be meaningfully higher than the current stock price. Also, firm says a more objective and independent CEO could accelerate the firm's restructuring activities, potentially exiting unprofitable businesses or closing inefficient factories sooner than the previous mgmt team. On the other hand the firm says that the Perlago's alleged misuse of corporate travel funds, along with the firm's investigation into options backdating, could be representative of a larger systemic problem with general corporate governance issues at ATML

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To: sixty2nds who wrote (13544)8/7/2006 4:06:55 PM
From: tech101
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With the Perlagos ousted, ATML will double in no time.

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To: sixty2nds who wrote (13544)8/7/2006 4:25:04 PM
From: JDN
   of 13565
 
Oh my Gawd, who would have ever thought?? jdn

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From: Ian@SI10/11/2006 12:43:31 PM
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UPDATE: FMR Boosts Stake In Atmel; Ex-CEO Said Mulling Bid

djones

SAN FRANCISCO (Dow Jones) - FMR Corp., which owns the Fidelity Investments
family of mutual funds, said Tuesday it boosted its share of chip maker Atmel
Corp. to a near-12% stake, adding the world's third-largest mutual fund company
to a list of buyers interesting in acquiring more of the company's shares.

FMR now owns 56.8 million Atmel shares, making Fidelity's parent company the
largest Atmel shareholder, according to a filing with the Securities and
Exchange Commission.

The disclosure comes as Atmel's ousted chief executive, George Perlegos, is
said to be mulling a bid for Atmel to retake control of the company he founded
over 20 years ago, according to two people familiar with Perlegos plans.

Perlegos, who in May balked at a preliminary takeover offer from RDG Capital
LLC worth $2.7 billion, or $5.50 a share, has been meeting with private equity
firms to drum up interest for his bid, said these people, who spoke on condition
of anonymity.

The heightened takeover interest in Atmel, which makes chips used in cell
phones, disk drives and car alarms, has helped push the company's shares (ATML)
up 92% this year. The stock has risen 26% since Aug. 4, the trading day before
Perlegos was ousted.

Atmel, which has been trying to transform itself from a memory chip firm to a
microcontroller provider, is the latest in a series of semiconductor firms to be
targeted by private equity buyers.

Freescale Semiconductor Inc. (FSL) agreed Sept. 15 to sell itself to an
investment consortium led by the Blackstone Group for $17.6 billion. Philips
Semiconductor was sold to Kohlberg Kravis Roberts Company and Silver Lake
Partners for $9.5 billion on Aug. 3.

Although the RDG Capital's preliminary overture was rejected by Perlegos, RDG
Capital head Russell Glass told MarketWatch in August he's still interested in
pursuing a transaction. When reached for this article, Glass declined comment.

Two-pronged strategy

Perlegos, who owns about 7% of Atmel shares, was fired along with his brother
Gust by the company's board on Aug. 7, allegedly for misusing corporate travel
funds. However, the brothers have sued Atmel for wrongful termination, saying
they were victims of an airfare booking scheme carried out by a former employee.

A hearing on the matter is tentatively slated for Oct. 17 in Delaware Chancery
Court. Atmel is based in San Jose, Calif.

Regardless of what happens in court, Perlegos will have a say in any sale of
the company, as he still owns 6.9% of Atmel's outstanding shares.

Stephen Norman, an attorney for Perlegos, declined comment on whether his
client was putting together a bid for Atmel.

Perlegos' meetings with potential investors, combined with his lawsuit, which
seeks his re-instatement as CEO and brother Gust as executive vice president, is
part of a two-pronged approach to retake control of the company he founded with
$23,000 of his own funds in 1984, according to these same sources.

Atmel's board fired the brothers, alleging they used corporate funds to pay
for 400 airline tickets for their family, friends and themselves, according to
court documents.

In their lawsuit, the Perlegos' claim they were ousted for other reasons but
don't explicitly state those reasons. They claim they - and others - were
victims of an airfare booking scheme carried out by a former employee, according
to the lawsuit.

In recent weeks, private equity players have been holding discussions with
company management and board members, according to the sources.

Potential bidders for Atmel are waiting for the Delaware court to issue its
ruling, the sources say. The chipmaker's new management team is led by Steve
Laub, a former partner at Golden Gate Capital, a San Francisco-based private
equity firm, will

A phone call to Atmel was not immediately returned for comment.

The advantage to buying Atmel is the opportunity to cut costs, industry
watchers note.

One way is to sell off the company's factories and outsource its chip
manufacturing to a third-party. Atmel has sold two factories in France in the
past 10 months and still owns 6 facilities stretching from Germany to the
Philippines. One of those sites is an idle, 650,000 square foot factory in the
Dallas, Tex.-area; the property is on the market.

Other costs could be cut by jettisoning business lines where competition is
too tough. Atmel makes memory chips, logic chips, radio frequency chips and
microcontrollers.

The company's microcontroller division is seen as its most promising venture,
selling to a range of markets. Its microcontrollers are used in consumer,
automotive, industrial, and aerospace products.

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