More than half of the sell-side analysts covering Altera (ALTR) have a Buy/Strong Buy rating on the shares, with many of them calling for a catch-up trade relative to Xilinx (XLNX) driven by gains in 28nm and a strong start with Intel's (INTC)
14nm process. Discounted free cash flow does suggest that these shares
are undervalued enough to be worth a good look, but management needs to
deliver better margins and investors should not underestimate the
challenges in competing with Xilinx.
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Altera: A Semiconductor Catch-Up Play Long In The Making
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