Insider Selling: Thomas Michael Nevens Unloads 8,381 Shares of Altera Corp. Stock (ALTR)
Altera Corp. (NASDAQ:ALTR) Director Thomas Michael Nevens unloaded 8,381 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $38.66, for a total value of $324,009.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird upgraded shares of Altera Corp. (NASDAQ:ALTR) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, August 26th. They now have a $45.00 price target on the stock, up previously from $37.00. They noted that the move was a valuation call. Separately, analysts at Citigroup Inc. upgraded shares of Altera Corp. (NASDAQ:ALTR) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 26th. They now have a $39.00 price target on the stock, down previously from $41.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Altera Corp. (NASDAQ:ALTR) in a research note to investors on Thursday, August 1st. They now have a $37.00 price target on the stock.
Sixteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $36.50.
Shares of Altera Corp. (NASDAQ:ALTR) traded down 0.34% on Friday, hitting $38.67. 1,980,551 shares of the company’s stock traded hands. Altera Corp. has a 52-week low of $29.59 and a 52-week high of $38.97. The stock has a 50-day moving average of $36.0 and a 200-day moving average of $34.20. The company has a market cap of $12.354 billion and a price-to-earnings ratio of 24.87.
Altera Corp. (NASDAQ:ALTR) last announced its earnings results on Tuesday, July 23rd. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was down 9.3% on a year-over-year basis.
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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