Altera Given Average Rating of “Buy” by Analysts (NASDAQ:ALTR)
Shares of Altera (NASDAQ:ALTR) have received a consensus recommendation of “Buy” from the nineteen analysts that are currently covering the stock, AR Network reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $38.43.
ALTR has been the subject of a number of recent research reports. Analysts at FBR Capital Markets raised their price target on shares of Altera from $45.00 to $47.00 in a research note on Thursday, June 19th. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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.
In other Altera news, SVP Katherine Schuelke sold 5,190 shares of Altera stock on the open market in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $33.94, for a total value of $176,148.60. The sale was disclosed in a document filed with the SEC, which is available at this link.
Altera (NASDAQ:ALTR) opened at 34.93 on Tuesday. 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 $33.40 and its 200-day moving average is $33.73. The company has a market cap of $10.942 billion and a price-to-earnings ratio of 25.68.
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.
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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