Insider Selling: William Hata Unloads 40,000 Shares of Altera Stock (ALTR)
Altera (NASDAQ:ALTR) SVP William Hata sold 40,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $33.82, for a total value of $1,352,800.00. Following the completion of the sale, the senior vice president now directly owns 127,240 shares of the company’s stock, valued at approximately $4,303,257. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on ALTR. 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 research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Altera has an average rating of “Buy” and an average target price of $38.33.
Altera (NASDAQ:ALTR) traded up 0.15% on Wednesday, hitting $33.94. The stock had a trading volume of 1,611,974 shares. 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 $33.06 and a 200-day moving average of $33.59. The company has a market cap of $10.632 billion and a price-to-earnings ratio of 24.92. Altera also was the recipient of a large increase in short interest in May. As of May 30th, there was short interest totalling 4,255,425 shares, an increase of 26.8% from the May 15th total of 3,356,834 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 2,868,273 shares, the days-to-cover ratio is presently 1.5 days.
Altera (NASDAQ:ALTR) last announced its earnings results on Thursday, April 24th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue 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.
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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