Invictus RG purchased a new stake in Altair Engineering Inc (NASDAQ:ALTR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,735 shares of the semiconductor manufacturer’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in 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 acquiring an additional 249,369 shares during the period. Strs Ohio purchased a new position in Altair Engineering in the 3rd quarter worth approximately $986,000. Janus Henderson Group PLC grew its stake in Altair Engineering by 28.1% in the 2nd quarter. Janus Henderson Group PLC now owns 514,520 shares of the semiconductor manufacturer’s stock worth $17,586,000 after buying an additional 112,872 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Altair Engineering by 100.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,511 shares of the semiconductor manufacturer’s stock worth $4,461,000 after buying an additional 65,484 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Altair Engineering by 177.3% in the 2nd quarter. BlackRock Inc. now owns 2,199,018 shares of the semiconductor manufacturer’s stock worth $75,161,000 after buying an additional 1,406,125 shares in the last quarter. 38.30% of the stock is currently owned by institutional investors.

ALTR has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Altair Engineering from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Canaccord Genuity boosted 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. Needham & Company LLC boosted 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. Royal Bank of Canada boosted their price target on shares of Altair Engineering from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Monday, August 13th. Three investment 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 a consensus target price of $38.43.

Shares of Altair Engineering stock opened at $30.59 on Friday. Altair Engineering Inc has a 52-week low of $20.50 and a 52-week high of $43.99. The firm has a market capitalization of $2.14 billion and a PE ratio of -48.56.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. Altair Engineering had a negative net margin of 12.83% and a positive return on equity of 13.76%. The company had revenue of $93.87 million during the quarter, compared to analysts’ expectations of $95.48 million. As a group, analysts forecast that Altair Engineering Inc will post 0.32 earnings per share for the current fiscal year.

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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.

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

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