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Atmel reaffirms 4Q guidance

In an effort to stop the bleeding among chip stocks, Atmel Corp. (Nasdaq ATML) said Friday that it would meet the fourth-quarter numbers provided during its most recent quarterly conference call.

Shares of the chip maker rose over 8 percent, up 0.81 to 10.47 in pre-session trading on the Island ECN network. Yesterday, the stock dropped nearly 12 percent.

The announcement comes a day after the semiconductor sector was hit hard on a Last month, the company topped estimates for the third quarter by a penny, posting a profit of earning $76.5 million, or 16 cents a share, on sales of $530.4 million.

Reuters contributed to this report.