Altera Corp. Given Average Rating of “Buy” by Analysts (NASDAQ:ALTR)
Shares of Altera Corp. (NASDAQ:ALTR) have been given an average rating of “Buy” by the twenty-four brokerages that are covering the company, Stock Ratings Network reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.34.
A number of analysts have recently weighed in on ALTR shares. Analysts at Zacks reiterated a “neutral” rating on shares of Altera Corp. in a research note to investors on Monday, January 27th. They now have a $34.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Altera Corp. in a research note to investors on Friday, January 24th. They now have a $40.00 price target on the stock. Finally, 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, January 21st. They now have a $38.00 price target on the stock, up previously from $32.00.
Shares of Altera Corp. (NASDAQ:ALTR) traded up 0.80% on Monday, hitting $33.9599. The stock had a trading volume of 473,166 shares. Altera Corp. has a 52 week low of $30.62 and a 52 week high of $39.18. The stock’s 50-day moving average is $32.35 and its 200-day moving average is $34.28. The company has a market cap of $10.791 billion and a P/E ratio of 24.77.
Altera Corp. (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.01. The company had revenue of $454.40 million for the quarter, compared to the consensus estimate of $442.07 million. During the same quarter last year, the company posted $0.37 earnings per share. Altera Corp.’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Altera Corp. will post $1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, February 6th.
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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