Altera Sees Large Drop in Short Interest (ALTR)
Shares of Altera (NASDAQ:ALTR) were the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 3,651,829 shares, a drop of 29.3% from the April 15th total of 5,165,893 shares, Analyst Ratings Network reports. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 4,264,563 shares, the days-to-cover ratio is currently 0.9 days.
A number of research firms have recently commented on ALTR. 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, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $38.13.
Altera (NASDAQ:ALTR) opened at 32.77 on Monday. Altera has a 52 week low of $30.73 and a 52 week high of $39.18. The stock has a 50-day moving average of $33.79 and a 200-day moving average of $33.51. The company has a market cap of $10.265 billion and a P/E ratio of 23.90.
Altera (NASDAQ:ALTR) last announced its earnings results on Thursday, April 24th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts predict that Altera will post $1.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 2nd. Stockholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date 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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