Electronics Industry's Featured Straggler Of The Day: Altera Corp. (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.

Altera ( ALTR) pushed the Electronics industry lower today making it today's featured Electronics laggard. The industry as a whole closed the day down 0.6%. By the end of trading, Altera fell 65 cents (-1.9%) to $33.15 on average volume. Throughout the day, 3.8 million shares of Altera exchanged hands as compared to its average daily volume of 3.5 million shares. The stock ranged in price between $32.37-$33.23 after having opened the day at $33.15 as compared to the previous trading day's close of $33.80. Other companies within the Electronics industry that declined today were: Daqo New Energy ( DQ), down 10.3%, Daystar Technologies ( DSTI), down 8.1%, Revolution Lighting Technologies ( RVLT), down 7.3%, and Transcat ( TRNS), down 6.8%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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 proprietary development software. Altera has a market cap of $10.61 billion and is part of the technology sector. The company has a P/E ratio of 19.3, above the S&P 500 P/E ratio of 17.7. Shares are down 1.7% year to date as of the close of trading on Thursday. Currently there are seven analysts that rate Altera a buy, no analysts rate it a sell, and 13 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 and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

On the positive front, Wells-Gardner Electronic ( WGA), up 10.7%, Ascent Solar Technologies ( ASTI), up 7.3%, Spire Corporation ( SPIR), up 6.6%, and Rambus ( RMBS), up 6.5%, were all gainers within the electronics industry with NXP Semiconductor ( NXPI) being today's featured electronics industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the electronics industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the electronics industry could consider ProShares Ultra Short Semiconductor ( SSG).

Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.