ALTR .............Div & Yield: 0.20 (0.90%)
PERIOD ENDING ....28-Dec-07 28-Sep-07 29-Jun-07 30-Mar-07
Retained Earnings 546,130 ..823,839.. 935,049 ...1,064,506 <---
Total Revenue .....323,167 .315,783.. 319,682 ....304,916 <---
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Sale (buy) Stock .(496,274) (198,423) (250,580) (115,442) <=====
Net Borrowings ....249,788 . (2,011) ....(201) ....(197)
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Qtrly Revenue Growth (yoy):. 10.20% <---good
Qtrly Earnings Growth (yoy): 11.80% <---good
Total Debt (mrq): 350.00M <---27% of revenue...high
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Shares Short (feb08): 10.51M
Shares Short (as of 26-Mar-08): 9.86M
Short % of Float (as of 26-Mar-08): 3.20%
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Trailing P/E (ttm, intraday): 25.05
Price/Sales (ttm): 5.21
Price/Cash Flow (TTM): 21.10
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Altera Cor****ation designs, manufactures, and markets programmable logic
devices (PLD), application-specific integrated circuits (ASIC), pre-
defined design building blocks, and associated development tools. Its
PLDs consist of field-programmable gate arrays (FPGA) and complex
programmable logic devices (CPLD), which are semiconductor integrated
circuits manufactured as standard chips that can be programmed to perform
logic functions in electronic systems; and HardCopy structured ASIC
devices enable customers to transition from a high-density FPGA to a low-
cost non-programmable implementation of design for volume production. The
company's products primarily include Stratix II and Stratix III high-end,
system-level FPGAs; Cyclone II low-cost, high-volume FPGAs; Arria GX low-
cost, transceiver-equipped FPGAs; HardCopy and HardCopy II structured
ASIC devices; and intellectual property cores that are pre-verified
building blocks that implement standard system-level functions that
customers incor****ate in their PLD design; and development tools
consisting primarily of the Quartus software that enables customers to
complete necessary PLD design steps. Altera Cor****ation serves customers
primarily in the communications, computer and storage, consumer, and
industrial sectors. The company markets its products through a network of
distributors, independent sales representatives, and direct sales
personnel. It has operations primarily in North America, the Asia
Pacific, Europe, and Japan. The company was founded in 1983 and is
headquartered in San Jose, California
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FROM THE 10K ANNUAL RE****T:
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WWW.SEC.GOV/ALTR = http://tinyurl.com/56dd74
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programmable logic devices = PLDs
application-specific integrated circuit = ASIC,
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We believe that the greatest op****tunity for our growth is displacing
ASICs and application-specific standard products (“ASSPs”). PLDs
generally have a higher cost structure than these alternatives. Thus PLDs
are particularly favored in applications where there is a substantial
premium afforded to time-to-market and in end-applications where unit
volumes are low. Because of the relatively higher cost of PLDs, customers
often use PLDs for their system development and prototyping and then use
ASIC technology in volume production.
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advances in PLD technology and in semiconductor manufacturing technology
in general are lowering the relative cost, performance and power
consumption differential between PLDs and fixed chip alternatives,
[[[[[[[[[[[I THINK THEIR RESONING IS FLAWED]]]]]]]]]]]]]]
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All PLD vendors provide proprietary development software at little or no
cost to the customer. The software, working in tandem with device logic
architecture and features, creates the functionality desired by the
customer. As customers gain familiarity with a particular PLD vendor’s
software, there is often an increasing likelihood that the customer will
want to use that same software again in another design, giving that PLD
vendor a potential advantage as the next system is designed.
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[[[[[[[[SO THEY ARE IN THE PROTOTYPE AND EARLY DESIGN BIZ]]]]]]]]]]
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During the fourth quarter of 2007, we recorded a $1.7 million
restructuring charge, of which $1.0 million was related to employee
severance costs.
..
During the twelve months ended December 28, 2007, we used $1.2 billion of
cash for the repurchase of shares of our common stock, compared to $140.0
million in 2006. We intend to repurchase up to $1.5 billion of our common
stock from the beginning of 2007 through the first half of 2008.
..
We used $31.2 million of cash for capital expenditures in 2007, compared
to $36.5 million in 2006.
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On January 11, 2008, we entered into an agreement for approximately $21.6
million for the construction of a building adjacent to our current
facility in Penang, Malaysia. Completion of the building is expected
during the first quarter of fiscal 2009.
On January 29, 2008, our board of directors declared a cash dividend of
$0.04 per common share payable on March 3, 2008 to stockholders of record
on February 11, 2008.
In January 2008, we entered into foreign exchange forward contracts for
approximately $25.9 million to purchase Malaysian ringgit.
On February 14, 2008, we completed the sale of approximately 20 acres of
land located in Santa Clara County, California. We received net proceeds
of approximately $9.1 million from the sale, and will record a gain of
approximately $0.1 million.
On February 22, 2008, we borrowed an additional $100 million under our
Long-term credit facility.
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We maintain investment ****tfolio holdings of various issuers, types and
maturity dates totaling $1.0 billion as of December 28, 2007.
Our net income is dependent on, among other factors, interest income and
realized gains from the sale of marketable securities
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Restructuring Charges
During the fourth quarter of fiscal 2007, we announced a restructuring of
our operations in order to lower our overall cost structure and enhance
near and long term profitability of the Company. The restructuring plan
includes elimination of 67 jobs associated with a decision to transfer
certain administrative functions to lower cost geographies and
consolidation of excess facilities resulting in restructuring of our
office leases in San Diego and Santa Cruz, California; Ottawa, Canada;
and Hong Kong. Our restructuring plan is expected to be complete during
2008. For the year ended December 28, 2007 we incurred total
restructuring expenses of $5.2 million, which is comprised of $3.6
million for employee severance costs, $1.3 million of operating lease
impairment charges, net of expected sublease income, and $0.3 million of
other costs.
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http://stockcharts.com/charts/gallery.html?ALTR
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In the midst of restructuring: layoffs, jobs to offshore, buying propety
and building buildings
declining sales but stable earnings.... they seem to be planning for the
future
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ALTR in complete rally mode. Should have bought in Feb08
many of it's moving averages have aligned at $20 due to 4.5 years of
consolodating basing
the current rally busted it through many lines of resistance which were
closely aligned due to this multi year base
I think the rally stalls at $23 but it's currently resting on it's very
strong sup****t of 10yr MA
ENTRY: $20
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