Macquarie Cuts Altera to Neutral (ALTR)
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Altera in a research note to investors on Friday, April 20th. Separately, analysts at JPMorgan Chase (NYSE: JPM) downgraded shares of Altera to a “neutral” rating in a research note to investors on Friday, April 20th. They now have a $35.00 price target on the stock, up previously from $34.00. Finally, analysts at Citigroup (NYSE: C) downgraded shares of Altera from a “buy” rating to a “neutral” rating in a research note to investors on Friday, April 20th. They now have a $38.50 price target on the stock.
Altera traded up 0.23% on Tuesday, hitting $35.31. Altera has a 1-year low of $30.39 and a 1-year high of $49.00. The company has a market cap of $11.392 billion and a price-to-earnings ratio of 17.44.
The company last announced its quarterly results on Thursday, April 19th. It reported $0.35 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.36 EPS by $0.01. The company’s quarterly revenue was down 28.4% on a year-over-year basis. Analysts expect that Altera will post $0.46 EPS next quarter.
Altera Corporation is a global semiconductor company. The Company designs, manufactures, and markets high-density programmable logic devices (PLDs), HardCopy ASIC devices, pre-defined design building blocks known as intellectual property (IP) cores, and associated development tools.