ThinkEquity said it has added Altera (NASDAQ: ALTR) to the Think Fast list, which predicts stocks that are expected to see a near-term upside.

The brokerage said Altera is well positioned to benefit from growth of the Programmable Logic Device (PLD) market as it takes share from custom and application-specific semiconductors.

The analysts also believe the company is winning significant design share in high-end PLD that use transceivers, driving both revenue growth and margin opportunity.

While operating leverage remains measured from current levels, we continue to expect a strong secular opportunity and a long-term EPS growth outlook of 15%, ThinkEquity analysts wrote in a note to clients.

Following are the other stocks in the Think Fast list.

Atmel (NASDAQ: ATML): ThinkEquity said the company has the opportunity for continued share gains in the microcontroller (MCU) market, where it has consistently gained share over the last few years.

Despite the recent share price appreciation, we would note that MCU share gains are hard to achieve in the first place and also hard to lose to competition once designs begin ramping into production, the analysts said.

They also said the recent revenue gains for the company are sustainable and support a higher level of earnings going forward.

First Solar Inc. (NASDAQ: FSLR): The brokerage said the company's guidance and commentary pointed to sustainable growth through the solar industry's transition out of subsidy dependent markets into being an economically independent industry over the next 1-3 years.

The company's vertical integration strategy will allow the company to maximize profitability while hedging its risk of potential price pressure as industry capacity catches up to demand.

Of the companies in the industry and the potential entrants, First Solar has a substantial cost advantage, which the brokerage expects to improve over the next 12 months.

We are growing increasingly bullish on 2011 solar demand, given recent data points on first half 2011 pricing from competitors, and our checks which indicate the solar industry is growing in excess of consensus expectations, the analysts said.

MedAssets, Inc. (NASDAQ: MDAS): ThinkEquity believes the company is well positioned in the revenue cycle management (RCM) business to help hospitals navigate a challenging and increasingly complex reimbursement landscape.

While quarterly financial results can be impacted by the timing of larger deals, the brokerage sees no shortage of demand for revenue cycle management solutions, and MedAssets has emerged as a leader in the field.

In our view, MedAssets offers investors tangible growth drivers at a valuation that seems reasonable in light of where many health care IT comps currently trade, the analysts said.

OPNET (NASDAQ: OPNT): The brokerage expects the company to continue competing successfully against larger application monitoring vendors, helped by the breadth of product portfolio and deep experience in network design and lifecycle technologies.

The analysts see OPNET is capable of a sustained organic revenue growth rate approaching the mid-teens, which should enable the company to achieve scale advantages and increase gross margin profitability.

The brokerage believes the $8 billion market opportunity for application monitoring and network services management has become particularly ripe for OPNET's comprehensive offering, which integrates user experience analytics with in-depth server and network monitoring.

PetSmart, Inc. (NASDAQ: PETM): The brokerage is compelled by the potential benefits to both comparable-store-sales and margins (and subsequently earnings) over the next several years as the company benefits from a refocusing of stores to emphasize higher-margin products and categories.

ThinkEquity believes there is potential for 15 to 20 percent growth in 2011 earnings despite low- to mid-single-digit comps.

Seattle Genetics, Inc.(Nasdasq: SGEN): The brokerage believes potential Front-Line (FL) combinability and Retreatment (RT) opportunities plus cash and technology platform value support a higher valuation for the company.

STEC Inc. (NASDAQ: STEC): STEC continues to enjoy a monopoly in the high-end Enterprise Storage SSD market at all key OEMs and this monopoly is likely to persist at least through the first half of 2011, the brokerage said.

There were also reports that NAND Flash supply in 2011 is likely to increase 71 percent year-over-year, which should keep input costs under check for STEC in 2011.

We remind investors of STEC's likely 2011 move to a proprietary ASIC and lower geometry which should help the company offset GM pressure from likely competition, the analysts added.

Williams-Sonoma Inc. (NYSE: WSM): The brokerage still expects Williams-Sonoma to be a net market share gainer over the next several years and expects that recent holiday sales strength and evidence of continued margin improvement will prove a catalyst for shares.

We see potential for low- to mid-single-digit revenue growth, and operating margin expansion from 9-13%+ over the next 3 to 4 years, helping drive what we believe is a sustainable 15-20 percent earnings growth over the next 3 to 4 years, suggesting potential earnings power of $3.60 a share, the analysts at ThinkEquity wrote in a note to clients.

Nyse Management U.S. Solar