Citigroup, Inc (NYSE: C) Boosts Estimates on Altera (NASDAQ: ALTR)

Analyst at Citigroup, Inc’s (NYSE: C) equities research division boosted their estimates on Altera (NASDAQ: ALTR) through 2011 citing the company’s guidance in its mid-quarter updates. The analysts reiterated their “buy” rating and a $36.00 price target in a research note to investors on Thursday.

Altera Corporation (Altera) is a semiconductor company. The Company designs, manufactures and markets programmable logic devices (PLDs), HardCopy application-specific integrated circuits (ASICs), pre-defined design building blocks, known as intellectual property (IP) cores, and associated development tools. Altera is a supplier of complementary metal oxide semiconductor (CMOS) PLDs. The Company’s PLDs consist of field-programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs), which are semiconductor integrated circuits, or chips, that its customers program to perform logic functions in their electronic systems. Its HardCopy ASICs enables its customer transition designs from FPGAs to non-programmable implementations. Altera’s IP cores can be licensed by customers to add functions to their PLD designs.

Shares of ALTR traded down 2.77% hitting $26.31 during mid-day trading on Thursday.

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