Pacific Crest Analysts Begin Coverage on Altera (ALTR)
Wednesday, August 31, 2021 9:35 AM

Equities research analysts at Pacific Crest initiated coverage on shares of Altera (NASDAQ: ALTR) in a research note to investors on Wednesday. The analysts set an "outperform" rating and a $50.00 price target on the stock.

Separately, analysts at Miller Tabak upgraded shares of Altera from a "hold" rating to a "buy" rating in a research note to investors on Thursday, August 11st. They noted that the move was a valuation call. Also, analysts at Barclays Capital (NYSE: BCS) upgraded shares of Altera from an "equal weight" rating to an "overweight" rating in a research note to investors on Thursday, August 11st. They now have a $46.00 price target on the stock.

Shares of Altera opened at 37.62 on Thursday. Altera has a 52 week low of $25.04 and a 52 week high of $49.59. The stock's 50-day moving average is $38.72 and its 200-day moving average is $42.87. The company has a market cap of $12.189 billion and a price-to-earnings ratio of 13.82.

Altera last announced its quarterly results on Tuesday, July 19th. The company reported $0.65 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.64 EPS by $0.01. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, analysts predict that Altera will post $0.64 EPS next quarter.

Altera Corporation (Altera) is a semiconductor company. The Company designs, manufactures and markets programmable logic devices (PLDs), HardCopy application-specific integrated circuits (ASICs), pre-defined design building blocks, known as intellectual property (IP) cores, and associated development tools. Altera is a supplier of complementary metal oxide semiconductor (CMOS) PLDs. The Company’s PLDs consist of field-programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs), which are semiconductor integrated circuits, or chips, that its customers program to perform logic functions in their electronic systems. Its HardCopy ASICs enables its customer transition designs from FPGAs to non-programmable implementations. Altera’s IP cores can be licensed by customers to add functions to their PLD designs.

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