Insider Selling: Mark Jon Nelson Sells 8,635 Shares of Altera Stock (ALTR)
Altera (NASDAQ:ALTR) SVP Mark Jon Nelson sold 8,635 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $32.69, for a total transaction of $282,278.15. Following the completion of the transaction, the senior vice president now directly owns 2,082 shares in the company, valued at approximately $68,061. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on ALTR shares. 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $38.92.
Altera (NASDAQ:ALTR) traded up 0.34% during mid-day trading on Tuesday, hitting $32.90. 2,475,126 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 has a 50-day moving average of $34.47 and a 200-day moving average of $34.30. The company has a market cap of $10.165 billion and a price-to-earnings ratio of 22.79.
Altera (NASDAQ:ALTR) last announced its earnings results on Thursday, July 24th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.31 earnings per share. Altera’s revenue was up 16.5% compared to the same quarter last year. On average, analysts predict that Altera will post $1.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, August 7th. This is a positive change from Altera’s previous quarterly dividend of $0.15.
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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