Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Callas James
   2. Issuer Name and Ticker or Trading Symbol
ALTERA CORP [ALTR] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) __X__ Other (specify below)
VP, Finance & Corp Controller / VP, Finance & Corp Controller
(Last)
(First)
(Middle)
101 INNOVATION DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
12/16/1998
(Street)

SAN JOSE, CA 95134		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/30/2006   A   6,000 A $ 0 (1) 6,000 D  
Common Stock 10/31/2006   (2) A   815 A $ 14.1185 6,815 D  
Common Stock 11/08/2006   S   815 D $ 19.21 6,000 D  
Common Stock 11/13/2006   M   15,000 A $ 13.0157 21,000 D  
Common Stock 11/13/2006   S   15,000 D $ 19.6548 6,000 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 13.0157 12/16/1998   A   28,000   02/01/2002(3) 12/16/2008 Common Stock 28,000 $ 13.0157 28,000 D  
Non-Qualified Stock Option (right to buy) $ 13.0157 11/13/2006   M     15,000 02/01/2002(3) 12/16/2008 Common Stock 15,000 $ 19.6548 13,000 D  
Non-Qualified Stock Option (right to buy) $ 13.91 12/03/2002   A   45,000   12/03/2003(4) 12/03/2012 Common Stock 45,000 $ 13.91 45,000 D  
Non-Qualified Stock Option (right to buy) $ 15.4063 03/29/1999   A   80,000   04/29/1999(5) 03/29/2009 Common Stock 80,000 $ 15.4063 80,000 D  
Non-Qualified Stock Option (right to buy) $ 20.04 01/03/2005   A   55,000   01/03/2006(4) 01/03/2015 Common Stock 55,000 $ 20.04 55,000 D  
Non-Qualified Stock Option (right to buy) $ 22.49 12/03/2001   A   55,000   02/01/2005(6) 12/03/2011 Common Stock 55,000 $ 22.49 55,000 D  
Non-Qualified Stock Option (right to buy) $ 22.7188 12/14/1999   A   25,000   02/01/2003(7) 12/14/2009 Common Stock 25,000 $ 22.7188 25,000 D  
Non-Qualified Stock Option (right to buy) $ 23.47 01/05/2004   A   45,000   01/05/2005(4) 01/05/2014 Common Stock 45,000 $ 23.47 45,000 D  
Non-Qualified Stock Option (right to buy) $ 24.625 12/20/2000   A   40,000   02/01/2004(8) 12/20/2010 Common Stock 40,000 $ 24.625 40,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Callas James
101 INNOVATION DRIVE
SAN JOSE, CA 95134		       VP, Finance & Corp Controller VP, Finance & Corp Controller

Signatures

 By: Joanne Norgart by pwr of attny For: James Callas   11/13/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each restricted stock unit represents a right to receive one share of the Issuer's common shares for free.
(2) The balance in item 5 includes shares purchased under Altera's Section 423(b) qualified stock purchase plan.
(3) Option shall vest to the extent of one-twelfth of the shares subject to such option at the end of each month following January 1, 2002.
(4) Option Vests 25% one year from grant date and then monthly over three years.
(5) Option shall vest in equal monthly installments over 4 years
(6) Option Vesting monthly during 2005
(7) Option shall vest to the extent of one-twelfth of the shares subject to such option at the end of each month following January 1, 2003.
(8) Option shall vest to the extent of one-twelfth of the shares subject to such option at the end of each month following January 1, 2004.

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