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Last $45.76 USD
Change Today +4.08 / 9.79%
Volume 16.3M
ALTR On Other Exchanges
Symbol
Exchange
NASDAQ GS
Hamburg
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

altera corp (ALTR) Key Developments

Intel May Reportedly Launch Hostile Bid For Altera

Intel Corporation (NasdaqGS:INTC) may launch a hostile bid for Altera Corp. (NasdaqGS:ALTR). Intel signed a standstill agreement earlier this year with Altera that expires on June 1, 2015, after which it may launch a bid.

Altera Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 27, 2015; Provides Earnings Guidance for the Second Quarter of 2015

Altera Corp. announced unaudited consolidated earnings results for the first quarter ended March 27, 2015. For the quarter, the company reported sales of $435.5 million compared to $461.092 million a year ago. Net income was $94.9 million, $0.31 per diluted share compared with net income of $111.1 million $0.36 per diluted share in the fourth quarter of 2014 and $116.5 million, $0.37 per diluted share, in the first quarter of 2014. Income before income taxes was $101.715 million against $130.140 million a year ago. Income from operations was $102.994 million against $133.141 million a year ago. Net cash provided by operating activities was $136.633 million against $130.430 million a year ago. Purchases of property and equipment were $38.593 million against $12.622 million a year ago. Purchases of intangible assets were $0.257 million. For the second quarter of 2015, the company expects sequential sales expected to be 4% to 8%, gross margin expected to be 66.5% to 67.5%, research and development expected to $110 million to $112 million and tax rate expected to be 12% to 14%.

Altera Corp. Declares Quarterly Cash Dividend, Payable on June 1, 2015

Altera Corp. announced that its board of directors declared a quarterly cash dividend of $0.18 per common share. The quarterly dividend will be payable on June 1, 2015 to stockholders of record on May 11, 2015.

Investors Ask Altera To Talk

Shareholders of Altera Corp. (NasdaqGS:ALTR) have urged the firm to resume takeover talks with Intel Corporation (NasdaqGS:INTC). Investors, including Cadian Capital Management, LLC and TIG Advisors, LLC have reportedly sent letters to Altera's management, raising concerns over company's ability to create value on its own.

Merger Talks Between Intel and Altera Reportedly Ends

According to a person familiar with the matter, Intel Corporation (NasdaqGS:INTC) and Altera Corp. (NasdaqGS:ALTR) have ended merger talks. Altera reportedly rejected an offer of about $54 a share from Intel Corp., people familiar with the negotiations said. The shares of Altera fell by 8% and shares of Intel fell by 2% after the rumour. Intel and Altera did not respond to requests for comment.

 

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ALTR

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Valuation ALTR Industry Range
Price/Earnings 31.3x
Price/Sales 7.2x
Price/Book 4.2x
Price/Cash Flow 29.9x
TEV/Sales 5.2x
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