RBC Capital Maintains a 'Sector Perform' on Altera (ALTR); Back-End Loaded Nature of It

RBC Capital maintains a 'Sector Perform' on Altera (NASDAQ: ALTR) price target of $40.00.

Analyst, Doug Freedman, said, "The lack of a change to guidance is unsurprising given the macro uncertainty in today’s market. However, in our opinion, ALTR’s unchanged numbers could be more reflective of the company’s intentions to keep investor revenue expectations at bay for Q4; rather than indicate that Q3 revenues are tracking to the mid-pt of guidance. In fact, we believe that management’s positive commentary on order trends for newer 40nm and 28nm products suggests that sales could be tracking towards the higher-end of the range. We continue to believe that end-market customer inventories remain low with lead-times within the normal 6-8 weeks."

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 $37.06 yesterday.

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