Altair Engineering (ALTR) Shares Bought by Spark Investment Management LLC

Spark Investment Management LLC grew its stake in Altair Engineering (NASDAQ:ALTR) by 128.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,200 shares of the semiconductor manufacturer’s stock after buying an additional 97,300 shares during the period. Spark Investment Management LLC owned 0.27% of Altair Engineering worth $5,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tygh Capital Management Inc. raised its holdings in shares of Altair Engineering by 40.6% in the first quarter. Tygh Capital Management Inc. now owns 333,664 shares of the semiconductor manufacturer’s stock worth $10,464,000 after buying an additional 96,416 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Altair Engineering by 11.9% in the first quarter. BlackRock Inc. now owns 792,893 shares of the semiconductor manufacturer’s stock worth $24,865,000 after buying an additional 84,293 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Altair Engineering by 70.9% in the first quarter. Northern Trust Corp now owns 66,443 shares of the semiconductor manufacturer’s stock worth $2,083,000 after buying an additional 27,574 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Altair Engineering by 21.3% in 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. Finally, Eaton Vance Management raised its holdings in shares of Altair Engineering by 2.5% in the first quarter. Eaton Vance Management now owns 617,284 shares of the semiconductor manufacturer’s stock worth $19,358,000 after buying an additional 15,196 shares during the last quarter. 23.20% of the stock is owned by institutional investors and hedge funds.

ALTR has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Altair Engineering from a “sell” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday. Canaccord Genuity increased their price objective on shares of Altair Engineering from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, March 22nd. Royal Bank of Canada increased their price objective on shares of Altair Engineering to $29.00 and gave the stock a “sector perform” rating in a research note on Monday, March 12th. They noted that the move was a valuation call. Berenberg Bank initiated coverage on shares of Altair Engineering in a research note on Tuesday, January 30th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Altair Engineering to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, March 22nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Altair Engineering presently has a consensus rating of “Buy” and a consensus price target of $33.75.

NASDAQ:ALTR opened at $34.97 on Friday. The firm has a market capitalization of $2.22 billion and a PE ratio of -55.51. Altair Engineering has a 1-year low of $16.55 and a 1-year high of $37.19. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Monday, May 14th. The semiconductor manufacturer reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. The business had revenue of $91.70 million during the quarter, compared to analyst estimates of $87.01 million. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. research analysts predict that Altair Engineering will post 0.27 EPS for the current fiscal year.

About Altair Engineering

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.

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