Atomera (NASDAQ:ATOM) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Atomera (NASDAQ:ATOM) from a hold rating to a buy rating in a report released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $5.00 price objective on the technology company’s stock.

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 upgraded Atomera from a hold rating to a buy rating in a research report on Friday, July 26th.

Shares of ATOM traded up $0.02 during trading hours on Friday, reaching $4.52. 53,067 shares of the company traded hands, compared to its average volume of 76,898. The company has a quick ratio of 17.32, a current ratio of 17.32 and a debt-to-equity ratio of 0.01. Atomera has a fifty-two week low of $2.33 and a fifty-two week high of $6.45. The company’s fifty day moving average price is $4.89.

Atomera (NASDAQ:ATOM) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.13 million. As a group, equities analysts expect that Atomera will post -0.86 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ATOM. BlackRock Inc. raised its holdings in shares of Atomera by 21.9% during the 4th quarter. BlackRock Inc. now owns 37,563 shares of the technology company’s stock worth $108,000 after acquiring an additional 6,745 shares during the period. Bank of New York Mellon Corp acquired a new position in Atomera in the 4th quarter valued at about $47,000. Geode Capital Management LLC grew its position in Atomera by 57.9% in the 4th quarter. Geode Capital Management LLC now owns 68,982 shares of the technology company’s stock valued at $197,000 after acquiring an additional 25,293 shares in the last quarter. Weybosset Research & Management LLC grew its position in Atomera by 38.3% in the 2nd quarter. Weybosset Research & Management LLC now owns 26,420 shares of the technology company’s stock valued at $133,000 after acquiring an additional 7,320 shares in the last quarter. Finally, Westside Investment Management Inc. acquired a new position in Atomera in the 2nd quarter valued at about $7,204,000. Hedge funds and other institutional investors own 21.92% of the company’s stock.

About Atomera

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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