UBS AG Lowers Price Target on Altera (ALTR)

By admin | 6 years ago

UBS AG (NYSE: UBS) decreased their price target on shares of Altera (NASDAQ: ALTR) from $42.50 to $40.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock.

Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley (NYSE: MS) upgraded shares of Altera from an “equal weight” rating to an “overweight” rating in a research note to investors on Thursday, May 31st. Separately, analysts at Zacks upgraded shares of Altera from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, May 3rd. They now have a $37.00 price target on the stock. Finally, analysts at Macquarie downgraded shares of Altera from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, May 1st.

Altera opened at 32.98 on Tuesday. Altera has a 1-year low of $30.39 and a 1-year high of $48.35. The company has a market cap of $10.640 billion and a price-to-earnings ratio of 16.33.

Altera last released its earnings data on Thursday, April 19th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 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.

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