Barclays Tweaks Estimates on Altera (ALTR) To Reflect More Muted Growth Expectations

Barclays maintains an 'Overweight' on Altera (NASDAQ: ALTR) price target of $42.00.

Analyst, C.J. Muse, said, "With Altera reiterating its June Q guide despite the weakening macro environment, look for incremental near-term upside for shares. Looking ahead, focus remains on (i) magnitude of 2H Comm. Infrastructure recovery, (ii) micro vs. macro cell debate, and (iii) competitive positioning with Xilinx (Nasdaq: XLNX)."

Muse lowers FY12 EPS estimate from $1.88 to $1.78 (consensus is $1.71) and FY13 from $2.35 to $2.25 (consensus is $2.16).

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.

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