Technical analysis for shorts & longs Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.38

+0.4%

Dec 24 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Johnny Canuck who wrote (41246)	6/2/2004 10:57:46 AM
From: Johnny Canuck	Read Replies (1) of 69216

07:16 ALTR Altera: Color On Guidance Call (22.83 ) Analyst community cautiously positive on Altera following an update on its business conditions for the first two months of its 2nd qtr. The company stated that Q2 is tracking at the high end of its expectations of revenue from $260.0-$265.0 mln, or 7% to 9% sequential revenue growth which was pretty much in line with expectations... JP Morgan out noting they believe the company is being conservative as their checks indicate Altera's 2Q04 is tracking slightly ahead of its guidance driven by strength from the consumer/industrial end market (47% of 1Q04 revenue) and share gains at EMC. In addition, they believe Altera continues to benefit from strength in the consumer and industrial end markets with strong sales of its Cyclone product line (5% of 1Q04 revenue). Firm remains concerned with the large inventory buildup in the communications supply chain. They estimate that total inventory days in the wireline supply chain increased 24 days QoQ from 86 days in 4Q03 to 110 days in 1Q04, above the normalized level of 85 days. Firm's rating remains Neutral... Goldman maintaining their Q2E for ALTR of $262.9M (up 8.2% Q/Q)/EPS $0.17, but expects estimates remain biased to the upside. In addition, they remain optimistic regarding business momentum for the broader PLD industry and expect XLNX will also post a solid mid-quarter update... Prudential notes that the co's QoQ rev growth guidance is ahead of PLD competitors, XLNX (+5-8%) and LSCC (+3-5%). ALTR's typical Jun Q seasonal growth is +5% QoQ. Firm is raising their estimates: new GAAP EPS estimates for the Jun-04 Q, CY04 and CY05 are $0.18, $0.68 and $0.85 from $0.16, $0.64 and $0.81, respectively. Tgt goes to $25 from $24 with rating at Neutral Weight... Finally, BofA out saying that the update likely to be viewed as a mild disappointment, given higher expectations heading into the report. That said, they think business trends at Altera remain strong and that there will likely be some additional upside to the updated guidance when the company reports results mid-July. [Harry: Increase in DSO would indicate more foreign customers on the surface or sales to less credit worthy customers. The first is not necessarily bad the second is]

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next