Altera SVP Sells $881,280 in Stock (ALTR)
Altera (NASDAQ:ALTR) SVP Dan Biran sold 27,000 shares of the company’s stock on the open market in a transaction dated Friday, August 1st. The shares were sold at an average price of $32.64, for a total transaction of $881,280.00. Following the completion of the sale, the senior vice president now directly owns 9,685 shares of the company’s stock, valued at approximately $316,118. The sale was disclosed in a document filed with the SEC, which is available at this link.
Altera (NASDAQ:ALTR) traded up 0.03% on Monday, hitting $32.79. 1,709,541 shares of the company’s stock traded hands. 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 $34.55 and a 200-day moving average of $34.26. The company has a market cap of $10.131 billion and a P/E ratio of 22.78.
Altera (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $491.50 million for the quarter, compared to the consensus estimate of $480.22 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Analysts expect that Altera will post $1.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, August 7th. This is a boost from Altera’s previous quarterly dividend of $0.15.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Altera in a research note on Friday, July 25th. They now have a $37.00 price target on the stock, down previously from $38.00. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $38.92.
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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