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Altera (NASDAQ:ALTR) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 5,993,652 shares, an increase of 34.9% from the June 13th total of 4,442,889 shares, Stock Ratings Network reports. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 2,509,981 shares, the days-to-cover ratio is currently 2.4 days.

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. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $38.85.

Shares of Altera (NASDAQ:ALTR) opened at 34.78 on Wednesday. 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 $34.42 and its 200-day moving average is $34.12. The company has a market cap of $10.895 billion and a price-to-earnings ratio of 25.68.

Altera (NASDAQ:ALTR) last posted its quarterly 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. Analysts expect that Altera will post $1.52 EPS 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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