Altera Rises On Unusually High Volume (ALTR)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Altera (Nasdaq: ALTR) is trading at unusually high volume Tuesday with 6.8 million shares changing hands. It is currently at two times its average daily volume and trading up $1.03 (+2.9%) at $36.04 as of 4 p.m. ET.

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Altera has a market cap of $11.3 billion and is part of the technology sector and electronics industry. Shares are up 2.8% year to date as of the close of trading on Monday.

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. The company has a P/E ratio of 20.6, above the S&P 500 P/E ratio of 17.7.

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 and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Altera Ratings Report.

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