Insider Selling: Katherine Schuelke Sells 5,190 Shares of Altera Stock (ALTR)
Altera (NASDAQ:ALTR) SVP Katherine Schuelke sold 5,190 shares of the stock on the open market in a transaction dated Thursday, June 12th. The stock was sold at an average price of $33.94, for a total transaction of $176,148.60. Following the completion of the sale, the senior vice president now directly owns 38,396 shares of the company’s stock, valued at approximately $1,303,160. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Altera (NASDAQ:ALTR) traded up 0.24% during mid-day trading on Friday, hitting $34.04. 1,103,732 shares of the company’s stock traded hands. Altera has a one year low of $30.73 and a one year high of $39.18. The stock’s 50-day moving average is $33.04 and its 200-day moving average is $33.60. The company has a market cap of $10.663 billion and a price-to-earnings ratio of 24.97. Altera also was the recipient of a large growth in short interest during the month of May. As of May 30th, there was short interest totalling 4,255,425 shares, a growth of 26.8% from the May 15th total of 3,356,834 shares. Based on an average daily trading volume, of 2,868,273 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.4% of the shares of the company are sold short.
Altera (NASDAQ:ALTR) last posted its quarterly 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. Analysts expect that Altera will post $1.52 EPS for the current fiscal year.
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 Friday. They now have a $36.00 price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Altera currently has an average rating of “Buy” and a consensus target price of $38.40.
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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