According to J.P. Morgan, Altera ALTR provided an update on its business for the first two months of its 2Q11.
J.P. Morgan said that the company reiterated its prior revenue guidance range of $535.8 million to $562.6 million (flat to up 5% QoQ), above our estimate of a 1% QoQ increase ($540.0 million). “We are maintaining our Neutral rating on ALTR stock until we gain more confidence estimates are not at risk.”
Altera closed yesterday at $47.20.
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