Research analysts at Deutsche Bank cut their target price on shares of Altera (NASDAQ: ALTR)
Altera traded down 4.52% on Thursday, hitting $33.59. Altera has a 52-week low of $29.59 and a 52-week high of $41.63. The stock?s 50-day moving average is currently $34.16. The company has a market cap of $10.768 billion and a price-to-earnings ratio of 19.66.
Altera last issued its quarterly earnings data on Wednesday, January 23rd. The company reported $0.37 earnings per share for the quarter, missing the analysts? consensus estimate of $0.39 by $0.02. The company had revenue of $439.44 million for the quarter, compared to the consensus estimate of $450.73 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company?s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts expect that Altera will post $1.74 EPS for the current fiscal year.
ALTR has been the subject of a number of other recent research reports. Analysts at MKM Partners cut their price target on shares of Altera from $34.00 to $32.00 in a research note to investors on Thursday. They now have a ?neutral? rating on the stock. Separately, analysts at William Blair downgraded shares of Altera from an ?outperform? rating to a ?market perform? rating in a research note to investors on Thursday. Finally, analysts at TheStreet reiterated a ?buy? rating on shares of Altera in a research note to investors on Friday, January 18th.
Fourteen investment analysts have rated the stock with a buy rating, one has given an overweight rating, sixteen have issued a hold rating, and one has issued a sell rating to the company. Altera has an average rating of ?overweight? and an average target price of $35.10.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 1st. Shareholders of record on Monday, February 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.14%.
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.