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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 Dividend.com 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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