Lazard Downgrades Altera to “Neutral” (ALTR)

On Tuesday analysts at Lazard Capital Markets downgraded microchip maker Altera Corporation (ALTR) as the company faces overall growth concerns.

The analysts downgraded ALTR from “Buy” to “Neutral.”

Altera shares were flat during premarket trading on Tuesday. The stock is down -7.05% over the past year.

The Bottom Line
Shares of Altera Corp (ALTR) have a 1.15% dividend yield, based on last night’s closing stock price of $34.68. The stock has technical support in the $31-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.

Altera Corporation (ALTR) is not recommended at this time, holding a DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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