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UPDATE: ISI Group Downgrades Altera Corporation to Hold, Lowers PT

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In a report published Wednesday, ISI Group downgraded its rating on Altera Corporation (NASDAQ: ALTR) from Buy to Hold, and lowered its price target from $35.00 to $30.00.

ISI Group noted, “Our revised view is predicated on potential downside to both revenue and gross margin, primarily from greater than anticipated weakness in the industrial vertical, relatively higher inventory risks, mediocre bookings and backlog trends, a diminished tailwind from 28nm, and limited earnings power given rising expenses. Our new 2013 EPS estimate is $1.65, down from $1.90.”

Altera Corporation closed on Tuesday at $32.22.

Latest Ratings for ALTR

DateFirmActionFromTo
Dec 2015Wells FargoTerminatesMarket Perform
Jun 2015Wells FargoDowngradesOutperformMarket Perform
Jun 2015FBR CapitalDowngradesOutperformMarket Perform

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Posted-In: ISI GroupAnalyst Color Downgrades Analyst Ratings

 

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