Altera Given Average Rating of “Buy” by Analysts (NASDAQ:ALTR)
Altera (NASDAQ:ALTR) has earned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, American Banking & Market News reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $39.18.
A number of research firms have recently commented on ALTR. 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 ING Group upgraded shares of Altera from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th.
Altera (NASDAQ:ALTR) opened at 33.10 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 $34.30 and its 200-day moving average is $34.27. The company has a market cap of $10.227 billion and a P/E ratio of 22.70.
Altera (NASDAQ:ALTR) last released its earnings data on Thursday, July 24th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue 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 announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors 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 2.18%. The ex-dividend date is Thursday, August 7th. This is an increase from Altera’s previous quarterly dividend of $0.15.
In other Altera news, SVP Mark Jon Nelson sold 8,635 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $32.69, for a total value of $282,278.15. The sale was disclosed in a document filed with the SEC, which can be accessed through 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.
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