Altera Stock To Go Ex-dividend Tomorrow (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) -- The ex-dividend date for Altera (Nasdaq: ALTR) is tomorrow, May 8, 2013. Owners of shares as of market close today will be eligible for a dividend of 10 cents per share. At a price of $33.08 as of 9:31 a.m. ET, the dividend yield is 1.2%.

The average volume for Altera has been 3.5 million shares per day over the past 30 days. Altera has a market cap of $10.48 billion and is part of the technology sector and electronics industry. Shares are down 4.8% 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 proprietary development software. The company has a P/E ratio of 18.8, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Altera as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Altera Ratings Report.

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