Altera SVP Kevin H. Lyman Unloads 8,000 Shares (ALTR)
Altera (NASDAQ:ALTR) SVP Kevin H. Lyman sold 8,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.85, for a total value of $278,800.00. Following the sale, the senior vice president now directly owns 4,608 shares in the company, valued at approximately $160,589. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Altera (NASDAQ:ALTR) traded down 0.82% on Monday, hitting $34.605. The stock had a trading volume of 1,824,684 shares. 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 $34.06 and a 200-day moving average of $34.4. The company has a market cap of $10.692 billion and a price-to-earnings ratio of 24.25.
Altera (NASDAQ:ALTR) last issued its quarterly 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 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 2.08%. The ex-dividend date is Thursday, August 7th. This is a positive change from Altera’s previous quarterly dividend of $0.15.
A number of research firms have recently commented on ALTR. Analysts at Zacks reiterated a “neutral” rating on shares of Altera in a research note on Friday. They now have a $37.00 price target on the stock. Separately, 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. Finally, 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, four have issued a hold rating and eleven have assigned a buy rating to the company. Altera currently has an average rating of “Buy” and an average 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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