Altera Backs Q2 Revenue Forecast; Sales Will Still Fall Significantly Year-over-Year (ALTR)

By
A A A
Share |

Semiconductor maker Altera Corporation ( ALTR ) late Thursday reiterated its second quarter revenue forecast, citing continued demand for its latest chips.

The San Jose-based company said it still expects a 14% to 18% increase in second quarter revenue on a sequential basis. ALTR had previously provided that outlook back in April. Considering the company saw $548.4 million in revenue during last year's second quarter, its forecast implies a 17% to 20% decline in year-ago sales levels.

That range implies second quarter revenue of $437.5 million to $452.8 million. Analysts are currently looking for $445.9 million in revenue for the period.

Altera shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Altera Corp ( ALTR ) have a .97% dividend yield, based on last night's closing stock price of $33.01. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.

Altera Corporation ( ALTR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: ALTR

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM