Altera raises ceiling on stock buybacks to 14.7 million shares

Altera raises ceiling on stock buybacks

SAN JOSE, Calif. — Chip maker Altera said Tuesday its board has approved raising the number of share the company can repurchase by 10 million.

Shares of Altera Corp. jumped last week after posting better-than-expected fourth-quarter results, thanks to higher demand across its markets.

On Tuesday, shares rose 27 cents, or 1.2 percent, to $22.15.