Wireless expert sees fast growth for Altera (ALTR)

"The semiconductor industry has been under pressure now for sometime, but one of the fastest growing businesses within the sector has been in programmable logic devices (PLDs)," notes Nikhil Hutheesing.

In The Forbes Wireless Stock Watch, he explains, "One of the top companies in this business is San Jose, Calif.-based Altera (NASDAQ: ALTR). Here's his bullish review.

"These PLDs are chips that allow software developers to use inexpensive software tools to quickly develop, simulate, and test their designs. Then, a design can be quickly programmed into the chip and immediately tested in a live circuit.

"Unlike other chips, PLDs are based on re-writable memory technology. That means that if a designer wants to change the design on the chip, the device can be easily reprogrammed.

"While Altera also manufacturers other kinds of chips, it's the PLD business that could reall