Altera Corp., Xilinx Inc., Cirrus Logic, Omnivision Technologies and MEMC Electronic Materials highlighted in Zacks Analyst Blog

  Altera Corp., Xilinx Inc., Cirrus Logic, Omnivision Technologies and MEMC
           Electronic Materials highlighted in Zacks Analyst Blog:

PR Newswire

CHICAGO, Jan. 16, 2013

CHICAGO, Jan. 16, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Altera Corp. (ALTR), Xilinx Inc.
(XLNX), Cirrus Logic (CRUS), Omnivision Technologies (OVTI) and MEMC
Electronic Materials (WFR).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

Today, Zacks is promoting Four daily picks are offered free.

Here are highlights from Wednesday's Analyst Blog:

Altera Downgraded to Strong Sell

On January 12, 2013, Zacks Investment Research downgraded Altera Corp. (ALTR)
to a Zacks Rank #5 (Strong Sell).

Why the Downgrade?

Altera has witnessed sharp downward estimate revisions after its modest third
quarter 2012 results and lowering of revenue guidance for the fourth quarter.
The shares of this Logic device manufacturer have been range bound since
October. Additionally, given its expected revenue decline in the upcoming
quarter, the shares have downside risk.

On October 23, 2012, Altera reported third quarter earnings per share of 49
cents, ahead of the Zacks Consensus Estimate by 6.5% but down 14.0% from the
year-ago quarter. Revenues dropped 5.0% from the year-ago quarter.

On December 4, 2012, the company announced that it expects revenue for the
fourth quarter to decline 8.0%–10.0% sequentially (previously 6.0%-10.0%). The
company believes that weak sales of legacy products will likely offset the
increasing sales of new products. The company also expects operating expenses
to grow sequentially.

Above all, Gartner's prediction for a 3.0% decline in the semiconductor market
in 2012 and dwindling PC market are concerns.

The Zacks Consensus Estimate for 2012 decreased 0.6% to $1.73 per share over
the last 60 days. For 2013, most of the estimates were lowered over the last
60 days, which pulled down the Zacks Consensus Estimate by 5.9% to $1.76 per
share. Over the last 90 days, estimates for 2012 and 2013 dropped 3.4% and
16.2%, respectively.

Altera operates in the semiconductor industry and is a key player in the
programmable logic devices (PLDs) market. Altera shares its PLD space with
Xilinx Inc. (XLNX) and the two companies jointly hold roughly 85.0% market
share.

Other Stocks to Consider

Not all semiconductor stocks are performing as poorly as Altera. We recommend
Cirrus Logic (CRUS), which has a Zacks Rank #1 (Strong Buy). Omnivision
Technologies (OVTI) and MEMC Electronic Materials (WFR), which have a Zacks
Rank #2 (Buy) are also looking good at present.

Today, Zacks is promoting Four daily picks are offered free.

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