Altera Corp. (ALTR) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Altera Corp. (NASDAQ:ALTR) issued its quarterly earnings data on Thursday. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.01, Analyst Ratings Network reports. The company had revenue of $454.40 million for the quarter, compared to the consensus estimate of $442.07 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis.
Altera Corp. (NASDAQ:ALTR) traded down 1.17% on Thursday, hitting $32.93. The stock had a trading volume of 3,115,959 shares. Altera Corp. has a 52-week low of $30.62 and a 52-week high of $39.18. The stock has a 50-day moving average of $31.88 and a 200-day moving average of $34.45. The company has a market cap of $10.575 billion and a price-to-earnings ratio of 23.32.
A number of research firms have recently commented on ALTR. Analysts at JPMorgan Chase & Co. upgraded shares of Altera Corp. from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday. They now have a $38.00 price target on the stock, up previously from $32.00. On the ratings front, analysts at Goldman Sachs Group Inc. downgraded shares of Altera Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, January 2nd. They now have a $34.00 price target on the stock, down previously from $39.00. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $37.18.
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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