Altera Rating Reiterated by Zacks (ALTR)
Altera (NASDAQ:ALTR)‘s stock had its “neutral” rating reissued by Zacks in a research note issued to investors on Friday. They currently have a $37.00 price target on the stock. Zacks‘s target price points to a potential upside of 6.11% from the stock’s previous close.
In other Altera news, SVP Jeffrey Waters unloaded 10,000 shares of Altera stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $33.58, for a total transaction of $335,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Altera (NASDAQ:ALTR) traded up 0.01% during mid-day trading on Friday, hitting $34.875. 1,015,757 shares of the company’s stock traded hands. Altera has a 1-year low of $30.73 and a 1-year high of $39.18. The stock has a 50-day moving average of $34.06 and a 200-day moving average of $34.34. The company has a market cap of $10.776 billion and a price-to-earnings ratio of 24.23.
Altera (NASDAQ:ALTR) last released its earnings data 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 declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors 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 2.06%. The ex-dividend date of this dividend is Thursday, August 7th. This is an increase from Altera’s previous quarterly dividend of $0.15.
Other equities research analysts have also recently issued reports about 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 research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $39.00.
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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