Altera Corporation Buyback
OLI recorded this information on 8/28/2013
Share Amount Authorized:
Altera Corporation (NASDAQ: ALTR) today announced that its board of directors has increased the company's share repurchase authorization by an additional 30.0 million shares. Combined with the board's previous authorization, there are now 41.1 million shares, representing approximately 13 percent of shares outstanding, authorized for repurchase. Under the repurchase program, which was previously approved by the board of directors, shares may be purchased in the open market from time to time at the discretion of the company's management. Management believes that this authorization is sufficient to support the company's share repurchase objectives through mid-2015.
Altair Engineering is a technology company providing software and cloud solutions in the areas of product design and development, cloud computing, and data intelligence. Co.'s Software segment includes software and software related services. The software component of this segment includes its portfolio of software products including its solvers and optimization technology products. Co.'s client engineering services (CES), segment provides client engineering services to support its customers with long-term ongoing capability. Co. operates its CES business by hiring engineers for placement at a customer site for specific customer-directed assignments.
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Strong Buy (3.50 out of 4)