Market Overview

UPDATE: Jefferies Downgrades Altera to Hold on Valuation and Limited Catalysts

Related ALTR
Will Altera Corp. (ALTR) Beat Earnings Estimate this Season?
Top 4 Large-Cap Stocks In The Semiconductor-Specialized Industry With The Lowest PEG Ratio

Jefferies reduced its rating on Altera (NASDAQ: ALTR) from Buy to Hold and lowered its price target from $40 to $38.

Jefferies noted, "We lower our rating on ALTR to Hold based on our view of limited wireless infrastructure catalysts, gross margin headwinds and competitive headwinds associated with decelerating if not increasing cost per transistor on advanced process nodes. With EV/S and EV/FCF 8% and 7% above 5-yr median, we think the stock is fairly valued."

Altera closed at $34.77 on Wednesday.

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (ALTR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters