Altera (Nasdaq: ALTR) is expected to report Q1 earnings on April 25. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Altera's revenues will grow 7.7% and EPS will shrink -8.6%.

The average estimate for revenue is $413.5 million. On the bottom line, the average EPS estimate is $0.32.

Revenue details
Last quarter, Altera tallied revenue of $439.4 million. GAAP reported sales were 4.0% lower than the prior-year quarter's $457.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.37. GAAP EPS of $0.38 for Q4 were 16% lower than the prior-year quarter's $0.45 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 69.7%, 40 basis points worse than the prior-year quarter. Operating margin was 31.4%, 360 basis points worse than the prior-year quarter. Net margin was 27.5%, 450 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.82 billion. The average EPS estimate is $1.54.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 325 members out of 353 rating the stock outperform, and 28 members rating it underperform. Among 94 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give Altera a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Altera is outperform, with an average price target of $35.09.

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