Altera Message Board - Msg: 21266234

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Technology Stocks : Altera

ALTR 53.61

+1.3%

Jul 7 5:00 PM EST

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To: Gaffer who wrote (2326)	4/26/2005 11:57:54 AM
From: Proud_Infidel	of 2389

Altera Shows 'Good Bookings Momentum' 04.26.05, 11:47 AM ET Banc of America Securities raised estimates on Altera (nasdaq: ALTR - news - people ) after the company reported strong a strong first quarter. Banc of America, which rates Altera at "neutral," noted the company's "good bookings momentum" with the book-to-bill ratio more than 1.0 and "an improvement to backlog." The research firm also noted a change in spending habits. "Our prior concerns regarding the impact of management's prior aggressive spending plans for calendar 2005 on operating margin leverage--have been somewhat alleviated--as evidenced by the commendable operating-expenditure control exhibited in the first quarter," Banc of America said. The firm raised the calendar 2006 estimate to earnings of 91 cents per share on sales of $1.28 billion, up from earnings of 76 cents per share on sales of $1.20 billion. In its coverage of semiconductors/analog and programmable logic devices, Banc of America's two top picks are Maxim Integrated Products (nasdaq: MXIM - news - people ) and Power Integrations (nasdaq: POWI - news - people ), both rated at "buy" with respective price targets of $50 and $24.50. The firm's two least favorites are Lattice Semiconductor (nasdaq: LSCC - news - people ) and Micrel Semiconductor (nasdaq: MCRL - news - people ), both rated at "sell" with respective price targets of $4 and $7.50.

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