Nomura Securities Maintains a 'Reduce' on Altera (ALTR); Remains Cautious Heading Into Q1 Release
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Price: $111.85 --0%
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Reduce' on Altera (NASDAQ: ALTR) price target of $33.00.
Analyst, Romit Shah, said, "We remain cautious on shares of Altera into earnings on Thursday. Our estimate of $0.38 in Q2 and $1.62 in CY12 are below consensus of $0.41 and $1.79."
"We maintain our view that Altera will be challenged to generate better than seasonal growth in 2012 from a slow recovery in wireless spending, a higher allocation in wireline, and decreasing PLD content in 3G base-stations...The stock is overvalued in our opinion, trading at 19x our CY13 estimate of $2.00 versus a comp group average of 14x (36% premium)."
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 $37.48 yesterday.
Analyst, Romit Shah, said, "We remain cautious on shares of Altera into earnings on Thursday. Our estimate of $0.38 in Q2 and $1.62 in CY12 are below consensus of $0.41 and $1.79."
"We maintain our view that Altera will be challenged to generate better than seasonal growth in 2012 from a slow recovery in wireless spending, a higher allocation in wireline, and decreasing PLD content in 3G base-stations...The stock is overvalued in our opinion, trading at 19x our CY13 estimate of $2.00 versus a comp group average of 14x (36% premium)."
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 $37.48 yesterday.
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