Altera Corp. (ALTR) is expected to report Q2 results on July 14, 2009. The company earlier reported revenues of $264.6 million in Q2:09, down 21% y/y and down 16% q/q.
Revenues from all segments were down except for telecom and wireless, which was driven by 3G spending in China. Excluding extra-ordinary items, EPS came in at $0.17.
Going forward, management expects revenues to grow 2%-7% sequentially in Q2 as most of the markets have stabilized and wireless revenues continue to grow. We maintain our Buy rating on the stock with a target price of $18.00.Zacks Investment Research
