Altera Corporation (ALTR) - NASDAQ
  • Oct. 22, 2015, 4:22 PM
    • Altera (NASDAQ:ALTR): Q3 EPS of $0.20 misses by $0.10.
    • Revenue of $399.57M (-20.0% Y/Y) misses by $29.38M.
    | Oct. 22, 2015, 4:22 PM | 5 Comments
  • Oct. 21, 2015, 5:35 PM
  • Jul. 23, 2015, 4:19 PM
    • Altera (NASDAQ:ALTR): Q2 EPS of $0.23 misses by $0.03.
    • Revenue of $414.16M (-15.7% Y/Y) beats by $4.6M.
    • Shares -0.16%.
    | Jul. 23, 2015, 4:19 PM
  • Jul. 22, 2015, 5:35 PM
  • Apr. 24, 2015, 2:03 PM
    • Though the Nasdaq is up 0.7% thanks to market-pleasing earnings from Google, Microsoft, and Amazon, chip stocks (SOXX -2.1%) are adding to their Thursday losses after Freescale, Altera, Microsemi, and Maxim joined the ranks of chipmakers offering soft Q2 guidance; Texas Instruments, Xilinx, and Qualcomm did so on Wednesday afternoon.
    • NXP (NXPI -4.3%), set to merge with Freescale in a cash/stock deal, is selling off ahead of its April 29 Q1 report. RF chipmakers Skyworks (SWKS -3.8%), Qorvo (QRVO -4.4%), and Avago (AVGO -5.2%) are also seeing steep declines.
    • Other decliners include a slew of telecom/networking, microcontroller, and analog/mixed-signal chipmakers. The group includes Marvell (MRVL -3%), ON Semi (ON -6.9%), Atmel (ATML -3.3%), Cypress (CY -4%), Lattice (LSCC -3.9%), Semtech (SMTC -6.9%), Cavium (CAVM -6%), PMC-Sierra (PMCS -2.9%), InPhi (IPHI -3.8%), and Silicon Labs (SLAB -2.9%). Chip packaging/testing firm Amkor (AMKR -5.7%) is also off; its Q1 report arrives on Monday.
    • As was the case with TI and Xilinx, soft telecom equipment chip demand was often blamed by those guiding light yesterday afternoon. Freescale (FSL -3.5%) stated it expects network processor division sales to be down Q/Q and RF (base station power amplifier) division sales to be flat. Microcontroller, automotive, and analog and sensor division sales are expected to rise.
    • Altera (ALTR -3.3%) stated its "telecom and wireless business, and particularly our wireless business globally looks to be quite weak in [Q2], while the rest for our business will in aggregate be flat to slightly up." Regarding its Q1 miss, the company notes "Industrial, test, compute and storage, and to a lesser extent military, fell short of our forecast" (share loss to Xilinx?).
    • Maxim reports seeing "broad-based softness in communications infrastructure demand" and soft industrial bookings to go with healthier mobile/auto demand. The Galaxy S6 appears to be giving a lift to Maxim's mobile sales.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | Apr. 24, 2015, 2:03 PM | 1 Comment
  • Apr. 23, 2015, 7:17 PM
    • Arguably providing more ammo for those disgruntled shareholders pushing for an Intel (NASDAQ:INTC) deal, Altera (NASDAQ:ALTR) forecasts Q2 revenue will be down 4%-8% Q/Q. That implies a range of $400.6M-$418M, far below a $492.1M consensus.
    • Telecom/wireless revenue (-12% Y/Y, 42% of total revenue) was a soft spot in Q1. As was industrial automation, military, & automotive (21% of revenue -7%). Networking, computer, & storage (17% of revenue, +2%) and other products (20% of revenue, +7%) were healthier. FPGAs were 84% of revenue, and CPLDs 8%. Book-to-bill was below 1.
    • Shares have dropped to $40.45 AH, after having fallen 1.6% in regular trading in response to Xilinx's numbers, which were blamed to a large extent on soft mobile infrastructure demand. For those keeping score, Altera is now 26% below Intel's rumored $54/share offer price.
    • Q1 results, PR
    | Apr. 23, 2015, 7:17 PM | 3 Comments
  • Apr. 23, 2015, 4:20 PM
    • Altera (NASDAQ:ALTR): Q1 EPS of $0.31 misses by $0.01.
    • Revenue of $435.5M (-5.5% Y/Y) misses by $35.5M.
    | Apr. 23, 2015, 4:20 PM
  • Apr. 22, 2015, 7:12 PM
    • In addition to missing FQ4 revenue estimates (while beating on EPS), Xilinx (NASDAQ:XLNX) is guiding for FQ1 revenue to be flat to down 4% Q/Q. That implies a range of $544.2M-$566.9M, below a $584.8M consensus.
    • Hurting FQ4 sales: Telecom/data center chip revenue (39% of total revenue) fell 7% Q/Q and 26% Y/Y; Texas Instruments just cited telecom infrastructure weakness (particularly for mobile gear) as a reason for its Q1 sales miss and soft Q2 guidance. Industrial, aerospace, & defense revenue (42% of total) fell 7% Q/Q (seasonality) but rose 13% Y/Y. Broadcast, consumer, & automotive (17% of total) rose 12% Q/Q and 6% Y/Y.
    • Helping EPS beat estimates: Gross margin was 69.9%, up 230 bps Y/Y and above guidance of 68%-69%. FQ1 GM guidance is at 69%-70%. Also boosting EPS: $175M was spent on buybacks, even with FQ3.
    • Xilinx has fallen to $42.89 AH. Archrival Altera (NASDAQ:ALTR), which reportedly rejected a $54/share Intel buyout offer, has dropped to $42.25 ahead of tomorrow's Q1 report. Piper downgraded Altera to Neutral earlier today, citing valuation.
    • Xilinx's FQ4 results, PR
    | Apr. 22, 2015, 7:12 PM
  • Apr. 22, 2015, 5:35 PM
  • Jan. 22, 2015, 4:57 PM
    • Altera (NASDAQ:ALTR) expects Q1 revenue to be flat to down 4% Q/Q. That implies a range of $460.7M-$479.9M, below a $486.3M consensus.
    • Networking, computer, & storage revenue (16% of total) was a weak spot in Q4, falling 3% Q/Q and 11% Y/Y. Telecom & wireless revenue (42% of total, hurt by soft wireline capex, boosted by the Chinese 4G buildout) was down 11% Q/Q but up 10% Y/Y. Industrial automation, military, and automotive was up 2% Q/Q and 7% Y/Y.
    • $151.5M was spent on buybacks, helping EPS beat estimates in spite of a revenue miss. Also helping: GAAP opex fell 1% Y/Y to $190.8M, thanks to a 4% drop in R&D spend to $107.3M. Gross margin fell 180 bps Q/Q and 330 bps Y/Y to 65%, and is expected to be around 65% in Q1.
    • The company is "entering the advanced stages of design" for its high-end Stratix 10 FPGAs, which will be made using Intel's cutting-edge 14nm FinFET manufacturing process.
    • Altera has fallen to $33.54 in AH trading. Shares rose 1.3% in regular trading, after opening lower in response to Xilinx's numbers.
    • Q4 results, PR
    | Jan. 22, 2015, 4:57 PM
  • Jan. 22, 2015, 4:21 PM
    • Altera (NASDAQ:ALTR): Q4 EPS of $0.36 beats by $0.01.
    • Revenue of $479.87M (+5.6% Y/Y) misses by $0.61M.
    • Shares -5.57% AH.
    | Jan. 22, 2015, 4:21 PM
  • Jan. 21, 2015, 5:35 PM
  • Jan. 21, 2015, 5:31 PM
    • On top of missing FQ3 revenue estimates (while beating slightly on EPS), Xilinx (NASDAQ:XLNX) is guiding for FQ4 revenue to be down 2%-6% Q/Q. That implies a range of $557.9M-$581.6M, well below a $635.4M consensus.
    • The FPGA vendor blames its FQ3 revenue miss on weak broadcast and telecom market sales. Many chipmakers and optical component vendors have seen telecom-related sells pressured by soft industry capex.
    • Gross margin was 69.7%, -220 bps Q/Q but +50 bps Y/Y and above guidance of 69%. That contributed to the EPS beat, as did $175M worth of buybacks. GAAP opex rose 10% Y/Y to $223.9M, exceeding revenue growth of 1%.
    • Segment performance: Telecom & data center revenue (41% of total) -7% Y/Y. Industrial, aerospace, & defense (43% of revenue) +18%. Broadcast, consumer, and automotive (14% of revenue) -9%. Everything else (2% of revenue) -39%. 28nm chip sales rose nearly 20% Q/Q.
    • Altera (NASDAQ:ALTR) is following Xilinx lower. Its Q4 report arrives tomorrow afternoon.
    • FQ3 results, PR
    | Jan. 21, 2015, 5:31 PM | 1 Comment
  • Jan. 20, 2015, 6:28 PM
    • Altera (NASDAQ:ALTR) will report Q4 results after the close on Thursday, January 22. The conference call will begin at 4.45 pm ET.
    • Consensus views are for EPS of $0.35 and revenue of $480.48M (+5.7% Y/Y).
    | Jan. 20, 2015, 6:28 PM
  • Nov. 26, 2014, 2:52 PM
    • Chip stocks are outperforming after Analog Devices (ADI +5.2%) beat FQ4 estimates and offered in-line FQ1 guidance. The Philadelphia Semi Index (SOXX +1.9%) has made new highs.
    • Notable gainers include many analog/mixed-signal and telecom IC firms: TXN +3%. LLTC +2.7%. SMTC +3.1%. ISIL +3.3%. SWKS +3.7%. AVGO +2.9%. OVTI +3.2%. FSL +3.1%. EZCH +2.5%. XLNX +2.3%. ALTR +2.1%. MX +4.3%. PMCS +2.7%. BRCM +2%.
    • On its CC (transcript), ADI noted its telecom equipment chip sales are holding up well in spite of weak capex, aided by the fact its dollar content for 4G base stations is "at least 20% to 30% better" than for 3G base stations. The company also mentioned its lead times were stable in FQ4.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | Nov. 26, 2014, 2:52 PM | 3 Comments
Company Description
Altera Corp designs and sells programmable logic devices, HardCopy application-specific integrated circuit devices, power system-on-chip devices, pre-defined design building blocks known as intellectual property cores, and associated development tools.
Sector: Technology
Industry: Semiconductor - Specialized
Country: United States