Sterling Capital Management LLC acquired a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 51,773 shares of the semiconductor manufacturer’s stock, valued at approximately $1,770,000. Sterling Capital Management LLC owned approximately 0.08% of Altair Engineering at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ALTR. Schwab Charles Investment Management Inc. grew its stake in Altair Engineering by 21.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 65,027 shares of the semiconductor manufacturer’s stock worth $2,040,000 after buying an additional 11,426 shares during the last quarter. Northern Trust Corp grew its stake in shares of Altair Engineering by 70.9% during the first quarter. Northern Trust Corp now owns 66,443 shares of the semiconductor manufacturer’s stock valued at $2,083,000 after purchasing an additional 27,574 shares during the last quarter. BlackRock Inc. grew its stake in shares of Altair Engineering by 11.9% during the first quarter. BlackRock Inc. now owns 792,893 shares of the semiconductor manufacturer’s stock valued at $24,865,000 after purchasing an additional 84,293 shares during the last quarter. Tygh Capital Management Inc. grew its stake in shares of Altair Engineering by 40.6% during the first quarter. Tygh Capital Management Inc. now owns 333,664 shares of the semiconductor manufacturer’s stock valued at $10,464,000 after purchasing an additional 96,416 shares during the last quarter. Finally, Spark Investment Management LLC grew its stake in shares of Altair Engineering by 128.2% during the first quarter. Spark Investment Management LLC now owns 173,200 shares of the semiconductor manufacturer’s stock valued at $5,431,000 after purchasing an additional 97,300 shares during the last quarter. 35.35% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on ALTR. William Blair reissued an “outperform” rating on shares of Altair Engineering in a research note on Thursday, August 23rd. Zacks Investment Research cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine raised shares of Altair Engineering from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Royal Bank of Canada increased their price target on shares of Altair Engineering from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. Finally, Berenberg Bank increased their price target 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 given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.63.

ALTR opened at $39.98 on Friday. Altair Engineering Inc has a one year low of $16.55 and a one year high of $43.06.

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

Altair Engineering 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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