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Bull of the Day

Altera Corp. (ALTR)

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July 08, 2009 |Comments: 0
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ALTR

Altera Corp. (ALTR) is expected to report Q2 results on July 14, 2009. The company earlier reported revenues of $264.6 million in Q2:09, down 21% y/y and down 16% q/q.

Revenues from all segments were down except for telecom and wireless, which was driven by 3G spending in China. Excluding extra-ordinary items, EPS came in at $0.17.

Going forward, management expects revenues to grow 2%-7% sequentially in Q2 as most of the markets have stabilized and wireless revenues continue to grow. We maintain our Buy rating on the stock with a target price of $18.00.

Altera Corp. (ALTR) : FULL ANALYST REPORT

Bull of the Day
Every day we feature one stock with a Zacks Recommendation of Buy that is set to outperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy rated stocks and in-depth research reports, then check out  Zacks Premium.

Read the full analyst report on ALTR

 
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