Altera Corp. (ALTR) – Bull of the Day
Source: http://www.zacks.com/commentary/11431/Altera+Corp.+%28ALTR%29+-+Bull+of+the+DayPosted on Wednesday, July 8th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
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.Zacks Investment Research
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