Piper Jaffray Looks Long Term at Altera Corporation

Piper Jaffray has published a report on Altera Corporation ALTR covering the semiconductor company's performance over the last year. In the report, Piper Jaffray wrote, "After significantly outperforming XLNX in 2010, we expect ALTR's market share momentum to continue into the foreseeable future for several reasons. Life to date, ALTR 4Xnm revenue has been roughly 2x XLNX or roughly 65% share, significantly higher than older product lines that are in decline. Moreover, 4Xnm products have been in the market for 2 years and typically peak as a percentage of revenue 5 years after introduction." Piper Jaffray rated Altera an Overweight with a price target of $52.00. Altera closed Friday at $40.88.