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July 28, 2014
14:16 EDTALTRAltera shares undervalued, says Argus
After Altera reported stronger than expected results, Argus thinks the company may have taken five points of market share in 28 nm during Q2. The firm thinks the company has multiple upcoming opportunities in 20 nm products. It keeps a Buy rating on the shares.
News For ALTR From The Last 14 Days
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October 13, 2015
17:51 EDTALTRIntel says sees signs PC market beginning to stabilize
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13:55 EDTALTREarnings Watch: Analysts more bullish on Intel since last report
Intel (INTC) is expected to report third quarter earnings after the close on Tuesday, October 13, with a conference call scheduled for 5:00 pm EDT. Intel is a global semiconductor manufacturer and a member of the Dow Jones Industrial Average. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $14.22B. The consensus range is 51c-63c for EPS on revenue of $13.96B-$14.41B, according to First Call. LAST QUARTER: On July 15, Intel reported second quarter EPS of 55c, topping the consensus expectation of 50c. The company's revenue of $13.2B also topped the consensus $13.04B forecast. For the quarter, the company's gross margin came in at 62.5%. Along with its financial results for last quarter, Intel forecast its FY15 revenue to be down approximately 1% from 2014, which was a reduction from its prior outlook of approximately flat. The company is now forecasting the midpoint of the gross margin range for the full year 2015 to be 61.5%, up 0.5 point from its prior outlook. Additionally, Intel lowered its FY15 capital spending view for the fiscal year to $7.7B plus or minus $500M, marking the second quarter in a row that the company had lowered its capex outlook. Intel had previously issued a capital spending target for FY15 of $8.7B, plus or minus $500M, in conjunction with its first quarter report. NEWS: On July 28, Intel and Micron (MU) introduced 3D XPoint technology, a non-volatile memory that the companies say has the potential to "revolutionize any device, application or service that benefits from fast access to large sets of data." Now in production, 3D XPoint technology brings non-volatile memory speeds up to 1,000 times faster than NAND, according to the partners. On September 2, Intel introduced the 6th Generation Intel Core processor family. In the coming months, Intel plans to deliver more than 48 processors in the 6th Gen Intel Core processor family, featuring Intel Iris and Iris Pro graphics, as well as Intel Xeon E3-1500M processor family for mobile workstations and 6th Gen Intel vPro processors for business and enterprises, the company said. On October 9, Reuters reported, citing two people familiar with the matter, that EU antitrust regulators are set to clear Intel's $16.7B proposal to acquire Altera (ALTR) without concessions. STREET RESEARCH: On the day after the company's last earnings report, Needham upgraded Intel to Buy and established a $37 price target on its shares. The firm raised revenue and margin estimates to reflect the anticipated improvement from increasing yields at 14nm and lower capital intensity. Needham also cited strength in the company's growth businesses and expectations that investor sentiment will improve for its ratings change. On August 7, Drexel Hamilton downgraded Intel to Hold from Buy and reduced its price target to $30 from $40, citing declining visibility for PC and server end markets. On August 31, Northland analyst Gus Richard upgraded Intel to Outperform, saying the worst of the PC downturn is over. The excess inventory of PCs is cleared and building again for back to school, Richard told investors in a research note. Richard also views the completion of the Altera acquisition as another positive catalyst for the chipmaker, on which he kept a $32 price target. On September 23, Bernstein upgraded Intel to Market Perform from Underperform, saying that the company's client business appears to have drained channel inventory in the first half of the year, which is unusual for it. Consequently, the firm thinks that the outlook for PCs may be improving, making the stock a less compelling target for short sellers. The firm, which added that Intel's "above seasonal" second half of 2015 client guidance "seems plausible," raised its target on the stock to $29 from $25. Two days later, JMP Securities upgraded Intel to Market Perform as well, telling investors that the company's server business was accelerating while the PC inventory burn was over. The company should benefit from stronger than expected virtual reality sales towards the end of 2015, added JMP. This morning, Jefferies analyst Mark Lipacis said he believes "high investor skepticism" exists regarding Intel's ability to meet its own forecast for an above seasonal Q3 and Q4. The company should meet or beat Q3 expectations, providing a good set-up for shares into the earnings report, Lipacis told investors. He sees some risk to the consensus estimates for Q4, but thinks a guidance cut is already priced into shares. The analyst remains a buyer of Intel with a Buy rating and $36 price target. PRICE ACTION: Over the last three months, Intel shares have risen over 8%. In afternoon trading ahead of Tuesday night's report, Intel was little changed at $32.22 per share.
October 9, 2015
10:07 EDTALTREU set to approve Intel offer for Altera without concessions, Reuters says
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10:01 EDTALTREU set to approve Intel offer for Altera without concessions, Reuters says
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October 7, 2015
10:52 EDTALTROptions with increasing implied volatility
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October 6, 2015
17:50 EDTALTRAltera stockholders approved merger with Intel
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October 2, 2015
13:34 EDTALTRAltera to host special shareholder meeting
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