Insider Selling: Mark Jon Nelson Unloads 2,177 Shares of Altera Stock (ALTR)
Altera (NASDAQ:ALTR) SVP Mark Jon Nelson sold 2,177 shares of the stock on the open market in a transaction dated Friday, May 30th. The shares were sold at an average price of $33.33, for a total value of $72,559.41. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $161,251. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
ALTR has been the subject of a number of recent research reports. Analysts at ING Group upgraded shares of Altera from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. Separately, analysts at RBC Capital upgraded shares of Altera from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $39.00 price target on the stock, up previously from $36.00. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.33.
Shares of Altera (NASDAQ:ALTR) traded down 0.06% on Monday, hitting $33.11. The stock had a trading volume of 2,505,609 shares. Altera has a 1-year low of $30.73 and a 1-year high of $39.18. The stock’s 50-day moving average is $33.10 and its 200-day moving average is $33.52. The company has a market cap of $10.372 billion and a price-to-earnings ratio of 24.36.
Altera (NASDAQ:ALTR) last announced its 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. 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. Shareholders 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 1.81%. 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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