By Market News Video Staff, Tuesday, November 30, 10:05 AM ET
Chip maker Altera (NASDAQ:ALTR) updated its fourth quarter guidance today. The company said it expects revenue to growth 3-6% over the third quarter, which would put revenue at about $543-$559 million.
For the full year 2011, Altera said it expects 70% gross margins, and $330 million in research and development spending.
Altera shares are trading down 2.1% today.
Altera is the fifth-largest holding of the Semiconductor HOLDRS (AMEX:SMH) ETF, at 6.75% of the portfolio.
Texas Instruments (NASDAQ:TXN) is the top holding, at 22.46% of the fund, followed by Intel (NASDAQ:INTC), at 20.24% of the fund. Applied Materials (NASDAQ:AMAT) is 10.37% of the fund, followed by Analog Devices (ADI), at 6.87% of the portfolio.
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