Altera Corp. Rating Lowered to Neutral at Goldman Sachs Group Inc. (ALTR)
Altera Corp. (NASDAQ:ALTR) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Altera Corp. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, December 17th. Separately, analysts at JMP Securities initiated coverage on shares of Altera Corp. in a research note to investors on Thursday, December 12th. They set an “outperform” rating and a $41.00 price target on the stock. Finally, analysts at William Blair downgraded shares of Altera Corp. from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, December 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Altera Corp. currently has an average rating of “Hold” and an average price target of $37.03.
Shares of Altera Corp. (NASDAQ:ALTR) opened at 32.511 on Thursday. Altera Corp. has a 1-year low of $30.62 and a 1-year high of $39.18. The stock has a 50-day moving average of $31.96 and a 200-day moving average of $34.51. The company has a market cap of $10.440 billion and a P/E ratio of 22.70.
Altera Corp. (NASDAQ:ALTR) last released its earnings data on Tuesday, October 22nd. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.03. The company had revenue of $445.90 million for the quarter, compared to the consensus estimate of $451.81 million. During the same quarter last year, the company posted $0.49 earnings per share. Altera Corp.’s revenue was down 9.9% compared to the same quarter last year.
In other Altera Corp. news, SVP William Hata sold 20,000 shares of Altera Corp. stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $31.38, for a total value of $627,600.00. Following the transaction, the senior vice president now directly owns 120,659 shares in the company, valued at approximately $3,786,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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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