Insider Selling: Jeffrey Waters Unloads 10,000 Shares of Altera Stock (ALTR)
Altera (NASDAQ:ALTR) SVP Jeffrey Waters sold 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $33.58, for a total value of $335,800.00. Following the transaction, the senior vice president now directly owns 7,503 shares of the company’s stock, valued at approximately $251,951. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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. 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $39.18.
Shares of Altera (NASDAQ:ALTR) traded up 0.34% during mid-day trading on Monday, hitting $34.145. 2,006,716 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’s 50-day moving average is $34.12 and its 200-day moving average is $34.30. The company has a market cap of $10.550 billion and a price-to-earnings ratio of 23.65.
Altera (NASDAQ:ALTR) last announced its earnings results 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. 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 2.11%. The ex-dividend date of this dividend is Thursday, August 7th. This is a boost 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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