Altera Corp. Stock Rating Upgraded by Robert W. Baird (ALTR)
Altera Corp. (NASDAQ:ALTR) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $45.00 price target on the stock, up from their previous price target of $37.00. Robert W. Baird’s price target would suggest a potential upside of 29.83% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of Altera Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $39.00 price target on the stock, down previously from $41.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Altera Corp. in a research note to investors on Thursday, August 1st. They now have a $37.00 price target on the stock. Finally, analysts at Mizuho raised their price target on shares of Altera Corp. from $38.00 to $40.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock.
Sixteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $36.50.
Shares of Altera Corp. (NASDAQ:ALTR) traded up 1.79% during mid-day trading on Monday, hitting $35.28. 1,074,110 shares of the company’s stock traded hands. Altera Corp. has a 52 week low of $29.59 and a 52 week high of $38.80. The stock’s 50-day moving average is $35.17 and its 200-day moving average is $34.04. The company has a market cap of $11.271 billion and a price-to-earnings ratio of 22.22.
Altera Corp. (NASDAQ:ALTR) last released its earnings data on Tuesday, July 23rd. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.31. The company had revenue of $421.80 million for the quarter, compared to the consensus estimate of $420.90 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts predict that Altera Corp. will post $1.41 earnings per share 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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