Tygh Capital Management Inc. acquired a new stake in shares of Altair Engineering Inc (NASDAQ:ALTR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 237,248 shares of the semiconductor manufacturer’s stock, valued at approximately $5,675,000. Tygh Capital Management Inc. owned about 0.38% of Altair Engineering at the end of the most recent quarter.
Separately, Schwab Charles Investment Management Inc. bought a new position in shares of Altair Engineering during the fourth quarter valued at about $1,283,000. Institutional investors and hedge funds own 8.51% of the company’s stock.
Shares of Altair Engineering Inc (NASDAQ ALTR) opened at $26.15 on Wednesday. The company has a debt-to-equity ratio of -1.31, a quick ratio of 0.51 and a current ratio of 0.52. Altair Engineering Inc has a 1-year low of $16.55 and a 1-year high of $28.90.
Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.63). The firm had revenue of $84.90 million for the quarter, compared to the consensus estimate of $83.07 million. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. sell-side analysts forecast that Altair Engineering Inc will post 0.22 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. Berenberg Bank assumed coverage on Altair Engineering in a research note on Tuesday, January 30th. They set a “buy” rating and a $33.00 price objective on the stock. Royal Bank of Canada assumed coverage on Altair Engineering in a research note on Monday, November 27th. They set a “sector perform” rating and a $26.00 price objective on the stock. William Blair assumed coverage on Altair Engineering in a research note on Monday, November 27th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. assumed coverage on Altair Engineering in a research note on Monday, November 27th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on Altair Engineering in a research note on Monday, November 27th. They set a “hold” rating and a $25.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.40.
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Altair Engineering Company Profile
Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.
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