Altera Corp. (ALTR): Today's Featured Electronics Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Altera ( ALTR) pushed the Electronics industry lower today making it today's featured Electronics laggard. The industry as a whole closed the day up 0.4%. By the end of trading, Altera fell $0.36 (-1.1%) to $31.78 on average volume. Throughout the day, 4,123,570 shares of Altera exchanged hands as compared to its average daily volume of 3,394,800 shares. The stock ranged in price between $31.70-$32.32 after having opened the day at $32.28 as compared to the previous trading day's close of $32.14. Other companies within the Electronics industry that declined today were: Ambarella ( AMBA), down 8.8%, Microvision ( MVIS), down 7.7%, Altair Nanotechnologies ( ALTI), down 7.5% and Jinpan International ( JST), down 5.2%.

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 $10.3 billion and is part of the technology sector. The company has a P/E ratio of 22.4, above the S&P 500 P/E ratio of 17.7. Shares are down 1.1% year to date as of the close of trading on Tuesday. Currently there are 9 analysts that rate Altera a buy, 2 analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Altera as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

On the positive front, Sevcon ( SEV), up 20.0%, Plug Power ( PLUG), up 18.2%, Montage Technology Group ( MONT), up 13.6% and Control4 ( CTRL), up 10.0% , were all gainers within the electronics industry with Texas Instruments ( TXN) 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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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