Jefferies, which maintains their "Hold" rating on Altera (NASDAQ:ALTR), said in the near term they should increase share from its wireless infrastructure customers.
"Altera is well positioned to gain additional share near-term driven by new product ramps from its wireless infrastructure customers, but expect these gains to moderate as Xilinx ramps its wireless infrastructure products and both companies have similar timelines for 28nm product ramps," said Jefferies.
Full year 2011 EPS estimates were lowered from $2.92 to $2.82.
Altera closed Tuesday at $35.09, dropping $0.38, or 1.07 percent. Jefferies has a price target on them of $35, raising it from $29.
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