Share on StockTwits

Research analysts at FBR Capital Markets raised their target price on shares of Altera (NASDAQ:ALTR) from $45.00 to $47.00 in a report released on Thursday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price target indicates a potential upside of 35.41% from the company’s current price.

A number of other firms have also recently commented on ALTR. Analysts at Zacks reiterated a “neutral” rating on shares of Altera in a research note on Friday, June 13th. 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $38.53.

Altera (NASDAQ:ALTR) opened at 34.71 on Thursday. 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 $33.15 and its 200-day moving average is $33.66. The company has a market cap of $10.873 billion and a P/E ratio of 25.63. Altera also saw a large growth in short interest in 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. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 2,868,273 shares, the short-interest ratio is currently 1.5 days.

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.

In other Altera news, SVP Katherine Schuelke sold 5,190 shares of the company’s stock on the open market in a transaction dated Thursday, June 12th. The shares were sold at an average price of $33.94, for a total value of $176,148.60. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.