Canaccord Genuity Reiterates a 'Hold' on Altera (ALTR) on Continuing Macro Uncertainty
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Price: $32.80 -3.27%
Rating Summary:
7 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
7 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ALTR Now!
Canaccord Genuity reiterates a 'Hold' on Altera (NASDAQ: ALTR) price target of $35.00.
Analyst, Bobby Burleson, said, "We remain HOLD rated on ALTR despite healthy upside, given our view that demand for FPGAs is likely to remain choppy in H2/12 and distribution trends weak. Our estimates are increased on the upside results and guidance, while our price target is unchanged to reflect a lower net cash position...Revenues and EPS were $464.8 million (+21% Q/Q) and $0.50 compared to consensus estimates of $445.2 million and $0.39 and our estimates of $445.0 million and $0.41. EPS benefitted $0.08 from a one-time federal tax benefit."
For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.
Shares of Altera closed at $30.67 yesterday, with a 52 week range of $29.67-$42.28.
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Analyst, Bobby Burleson, said, "We remain HOLD rated on ALTR despite healthy upside, given our view that demand for FPGAs is likely to remain choppy in H2/12 and distribution trends weak. Our estimates are increased on the upside results and guidance, while our price target is unchanged to reflect a lower net cash position...Revenues and EPS were $464.8 million (+21% Q/Q) and $0.50 compared to consensus estimates of $445.2 million and $0.39 and our estimates of $445.0 million and $0.41. EPS benefitted $0.08 from a one-time federal tax benefit."
For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.
Shares of Altera closed at $30.67 yesterday, with a 52 week range of $29.67-$42.28.
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