Dynamic Technology Lab Private Ltd Takes Position in Altair Engineering Inc (NASDAQ:ALTR)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,241 shares of the semiconductor manufacturer’s stock, valued at approximately $692,000.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Altair Engineering by 177.3% during the 2nd quarter. BlackRock Inc. now owns 2,199,018 shares of the semiconductor manufacturer’s stock worth $75,161,000 after purchasing an additional 1,406,125 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Altair Engineering by 105.2% during the 1st quarter. Royal Bank of Canada now owns 1,312,947 shares of the semiconductor manufacturer’s stock worth $41,175,000 after purchasing an additional 673,190 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Altair Engineering by 146.0% during the 2nd quarter. Citadel Advisors LLC now owns 682,244 shares of the semiconductor manufacturer’s stock worth $23,319,000 after purchasing an additional 404,855 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Altair Engineering by 75.8% during the 2nd quarter. Wells Fargo & Company MN now owns 578,144 shares of the semiconductor manufacturer’s stock worth $19,761,000 after purchasing an additional 249,369 shares during the last quarter. Finally, Contour Asset Management LLC purchased a new stake in shares of Altair Engineering during the 1st quarter worth approximately $17,691,000. Institutional investors own 35.34% of the company’s stock.

Several brokerages have recently issued reports on ALTR. Needham & Company LLC raised their price target on shares of Altair Engineering from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Canaccord Genuity raised their price target on shares of Altair Engineering from $32.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, August 10th. Royal Bank of Canada raised their price target on shares of Altair Engineering to $38.00 and gave the stock a “sector perform” rating in a research note on Monday, June 11th. Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, Berenberg Bank lifted their price objective on shares of Altair Engineering to $43.00 and gave the company a “buy” rating in a research note on Friday, June 15th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Altair Engineering has a consensus rating of “Buy” and an average price target of $38.63.

Altair Engineering stock traded up $0.08 during mid-day trading on Friday, reaching $41.69. The company’s stock had a trading volume of 317,791 shares, compared to its average volume of 341,660. The firm has a market capitalization of $3.04 billion and a price-to-earnings ratio of -66.17. Altair Engineering Inc has a 12-month low of $16.55 and a 12-month high of $43.99.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, August 9th. The semiconductor manufacturer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $95.60 million during the quarter, compared to analyst estimates of $91.08 million. Altair Engineering had a negative net margin of 23.35% and a negative return on equity of 21.85%. Altair Engineering’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Altair Engineering Inc will post 0.29 earnings per share for the current fiscal year.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems, as well as provides data analytics and true-to-life visualization and rendering.

Featured Article: Why is the conference call important?

Institutional Ownership by Quarter for Altair Engineering (NASDAQ:ALTR)

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply