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By Market News Video Staff, Wednesday, April 13, 12:03 PM ET
On Wednesday, shares of Altera Corporation (NASDAQ:ALTR) were resumed with a Buy at Auriga USA. The maker of programmable logic devices also had its price target raised from $44 to $51, as it is expected to resume growth in the second half of the year after two quarters of inventory correction, according to a source. Shares of the Silicon Valley based manufacturer rose 2.43% to $42.70.
Chinese web services company, Baidu (NASDAQ:BIDU), was initiated with a Buy at Jefferies. With the rating, a price target of $200 was assigned. Shares of Baidu jumped 3.23%, and are trading just below their 52 week high of $148.92.
Altera and Baidu are holdings of the First Trust NASDAQ-100 Technology Index Fund (QTEC), which is up roughly 1% to $26.75 during the morning session. Top components of the fund include Seagate Technology (NASDAQ:STX), Citrix Systems (NASDAQ:CTXS) and Oracle (NASDAQ:ORCL).
For a complete list of holdings, visit the QTEC Holdings page on ETFChannel.com
At the time of publication, one or more members of the ETFChannel Staff was long the following stocks: ALTR
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
This Article's Word Cloud:ALTRAlteraBIDUBaiduCHANNELETFChannelFLEXIBLEGrowthInvestmentNASDAQQTECSeagateSharesTechnologyallowsanywhereassetclassescompletecompletelycomponentscorrectioncountriesdesigneddevicesduringeverywhereexpectedflexibilityfollowfromfundgrowthhighholdingsjumpedjustlogicpageportfoliopriceraisedregionssecondshortstockstargettheirtimewith
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