4. As of noon trading, Altera ( ALTR) is up $0.44 (1.4%) to $31.98 on light volume Thus far, 1.2 million shares of Altera exchanged hands as compared to its average daily volume of 4.0 million shares. The stock has ranged in price between $31.31-$32.20 after having opened the day at $31.40 as compared to the previous trading day's close of $31.54.

Altera Corporation, a semiconductor company, designs, manufactures, and markets programmable logic devices (PLD), HardCopy application-specific integrated circuit (ASIC) devices, pre-defined design building blocks, and associated development tools. Altera has a market cap of $10.2 billion and is part of the technology sector. The company has a P/E ratio of 17.8, above the S&P 500 P/E ratio of 17.7. Shares are down 14.0% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Altera a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Altera as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Altera Ratings Report now.

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