Sterling Capital Management LLC bought a new position in Altair Engineering Inc (NASDAQ:ALTR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 51,773 shares of the semiconductor manufacturer’s stock, valued at approximately $1,770,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in Altair Engineering in the second quarter worth $282,000. Point72 Asset Management L.P. acquired a new stake in Altair Engineering in the second quarter worth $7,174,000. Bank of America Corp DE raised its holdings in Altair Engineering by 375.0% in the second quarter. Bank of America Corp DE now owns 17,670 shares of the semiconductor manufacturer’s stock worth $604,000 after purchasing an additional 13,950 shares during the period. Voya Investment Management LLC acquired a new stake in Altair Engineering in the second quarter worth $306,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Altair Engineering in the second quarter worth $692,000. Institutional investors own 35.35% of the company’s stock.
Shares of ALTR stock opened at $39.98 on Friday. Altair Engineering Inc has a 12-month low of $16.55 and a 12-month high of $43.06.
Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Altair Engineering from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Berenberg Bank increased their target price on shares of Altair Engineering to $43.00 and gave the stock a “buy” rating in a report on Friday, June 15th. Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. William Blair reiterated an “outperform” rating on shares of Altair Engineering in a report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Altair Engineering from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $38.63.
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.
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