Altera Sees Significant Drop in Short Interest (ALTR)
Shares of Altera (NASDAQ:ALTR) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 5,165,893 shares, a drop of 22.0% from the March 31st total of 6,619,580 shares, Analyst Ratings Net reports. Based on an average trading volume of 3,132,068 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.6% of the shares of the company are short sold.
A number of analysts have recently weighed in on ALTR shares. Analysts at Zacks reiterated a “neutral” rating on shares of Altera in a research note on Monday, April 28th. They now have a $35.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Altera from $34.00 to $36.00 in a research note on Monday, April 28th. They now have a “sector perform” rating on the stock. Finally, analysts at Nomura reiterated a “reduce” rating on shares of Altera in a research note on Friday, April 25th. They now have a $30.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.88.
Shares of Altera (NASDAQ:ALTR) opened at 32.13 on Monday. Altera has a 52-week low of $30.73 and a 52-week high of $39.18. The stock’s 50-day moving average is $34.81 and its 200-day moving average is $33.77. The company has a market cap of $10.065 billion and a price-to-earnings ratio of 23.59.
Altera (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.05. The company had revenue of $461.10 million for the quarter, compared to the consensus estimate of $437.97 million. During the same quarter last year, the company posted $0.37 earnings per share. Altera’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that Altera will post $1.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 2nd. Shareholders of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, May 8th.
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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