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Altera (NASDAQ: ALTR)‘s stock had its “sell” rating reaffirmed by Zacks in a research note issued on Thursday, AnalystRatings.Net reports. They currently have a $32.00 price target on the stock.

Zacks‘ analyst wrote, “Altera recently reported disappointing fourth quarter 2012 results with EPS and revenue missing the Zacks Consensus Estimates due to broad-based weakness across end markets and geographies. Guidance too was disappointing. The only positive was strong sales of new products, which however will be not enough to offset the broader market weakness, softer demand from a key customer and revenue recognition changes at another big customer in the near term. Considering the macroeconomic weakness, stiff competition from Xilinx and soft end market demand, we maintain our Underperform recommendation.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James raised their price target on shares of Altera from $40.00 to $42.00 in a research note to investors on Thursday, March 21st. They now have a “strong-buy” rating on the stock. Separately, analysts at Mizuho reiterated a “buy” rating on shares of Altera in a research note to investors on Thursday, March 14th. They now have a $41.00 price target on the stock. Finally, analysts at UBS AG downgraded shares of Altera from a “buy” rating to a “neutral” rating in a research note to investors on Monday, March 11th. They now have a $36.00 price target on the stock.

One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.55.

Shares of Altera (NASDAQ: ALTR) traded down 0.57% during mid-day trading on Thursday, hitting $33.11. Altera has a 52 week low of $29.59 and a 52 week high of $39.26. The stock’s 50-day moving average is currently $34.70. The company has a market cap of $10.587 billion and a P/E ratio of 19.36.

Altera (NASDAQ: ALTR) last announced its earnings results on Wednesday, January 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.02. The company had revenue of $439.44 million for the quarter, compared to the consensus estimate of $450.73 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts expect that Altera will post $1.54 EPS for the current fiscal year.

Altera Corporation is a global semiconductor company. The Company designs, manufactures, and markets high-density programmable logic devices (NASDAQ: ALTR), HardCopy ASIC devices, pre-defined design building blocks known as intellectual property (IP) cores, and associated development tools.

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