Altera Earning estimates report january 27 2012

Altera Earning estimates report january 27 2012 : Despite an expected dip in profit, analysts are generally optimistic about Altera (ALTR) as it prepares to reports its fourth quarter earnings on Tuesday, January 24, 2012.

What to Expect:
Analysts are projecting Altera to come in with earnings of 41 cents per share, 43.1% less than a year ago when it reported earnings of 72 cents per share.

The consensus estimate remains unchanged over the past month, but it has decreased from three months ago when it was 58 cents. Analysts are projecting earnings of $2.32 per share for the fiscal year.

Analysts look for revenue to decrease 19.4% year-over-year to $447.5 million for the quarter, after being $555.4 million a year ago. For the year, revenue is expected to come in at $2.05 billion.

Trends to Watch For:
Revenue dropped year-over-year in the third quarter, breaking the three-quarter streak of revenue growth. The 0.9% revenue decline in the most recent quarter can be compared with three quarters prior when it had been rising. It increased 16.9%in the second quarter, 33.2% in the first quarter and 52.2% in the fourth quarter of the last fiscal year.

The decline in net income in the third quarter snapped a three-quarter streak of increasing profit. Profit dropped 14.8% year-over-year in the most recent quarter. Going further back, the figure rose 18.8% in the second quarter, 46.3% in the first quarter and more than twofold in the fourth quarter of the last fiscal year.

Analyst Ratings:
The majority of analysts (63.6%) rate Altera as a buy. That percentage is still below the mean analyst rating of its nearest 10 competitors, which average 69.7% buys. Analysts have become more cautious about the stock in the last three months.

Competitors:
Altera Corporation designs and manufactures such items as programmable logic devices, HardCopy ASIC devices, pre-defined design building blocks, cores, and associated development tools. One of Altera’s main competitors in the semiconductors and semiconductor equipment industry, Texas Instruments (TXN), will report earnings on January 23, 2012. Other competitors in the information technology sector include: Lattice Semiconductor (LSCC), Xilinx (XLNX), and QuickLogic (QUIK).

Recent Price Movement:
Over the past quarter, the stock price has risen to $40.72 from $36.97 on October 21, 2011.

Earnings estimates provided by Zacks.
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