Altera Corporation(NASDAQ:ALTR) gained in late trading after reporting earnings and revenue that beat analyst estimates. The chipmaker’s Q1 earnings of $0.37 a share beat the consensus estimate of $0.32 tallied by Capital IQ. Altera posted EPS of $0.37 in the prior year. Revenue gained 12% to $461.1 million, beating the analyst forecast for $438 million.
The company expects Q2 sales to rise 2% to 6% from Q1, putting it on target to reach $470 million to $484.2 million. Analysts had estimated Q2 revenue of $461 million before Q1 results were released. Altera (NASDAQ:ALTR) gained 5.5% to $36 in after-hours trading. It has traded from $30.73 to $39.13 in the past 52 week’s regular sessions.
Shares of Microsoft Corporation(NASDAQ:MSFT) are higher after-hours as the company reports Q3 GAAP EPS of $0.68, compared to EPS of $0.72 a year ago. If comparable, consensus by analysts polled by Capital IQ was for EPS of $0.63. Revenue of $20.4 billion edged analyst estimates of $20.3 billion and is essentially flat from a year ago. On a non-GAAP basis, EPS increased 5% while revenues gained 8%.
Analysts have a consensus price target of $37.54 on Microsoft Corporation(NASDAQ:MSFT) which indicates a 5.81% downside. The consensus rating of the stock is a HOLD with a score of 2.24. There are currently 19 Hold Ratings, 11 Buy ratings and 3 Sell ratings on the stock.
The most recent analyst action consisted of RBC Capital boosting their price target on the stock from $37 to $44.
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