Canaccord Genuity Maintains a 'Hold' on Altera (ALTR); Cutting Price Target on Softening Demand

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Canaccord Genuity maintains a 'Hold' on Altera (NASDAQ: ALTR) price target of $35.00 (from $40.00).

Analyst, Bobby Burleson, said, "We lower our price target for ALTR and reiterate our rating as demand appears to be softening into the September quarter guide. Reiterated mid-quarter revenue view offers a mild near-term positive for the stock considering negative sentiment, while XLNX will likely continue to be seen as a share-gainer."

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 $33.01 yesterday, with a 52 week range of $30.39-$48.35.

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