Voya Investment Management LLC Purchases Shares of 8,967 Altair Engineering Inc (ALTR)

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Voya Investment Management LLC bought a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,967 shares of the semiconductor manufacturer’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALTR. Schwab Charles Investment Management Inc. raised its stake in Altair Engineering by 21.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 65,027 shares of the semiconductor manufacturer’s stock valued at $2,040,000 after acquiring an additional 11,426 shares in the last quarter. Northern Trust Corp raised its stake in Altair Engineering by 70.9% during the 1st quarter. Northern Trust Corp now owns 66,443 shares of the semiconductor manufacturer’s stock valued at $2,083,000 after acquiring an additional 27,574 shares in the last quarter. BlackRock Inc. raised its stake in Altair Engineering by 11.9% during the 1st quarter. BlackRock Inc. now owns 792,893 shares of the semiconductor manufacturer’s stock valued at $24,865,000 after acquiring an additional 84,293 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Altair Engineering during the 1st quarter valued at $702,000. Finally, Barclays PLC raised its stake in Altair Engineering by 123.1% during the 1st quarter. Barclays PLC now owns 8,900 shares of the semiconductor manufacturer’s stock valued at $279,000 after acquiring an additional 4,910 shares in the last quarter. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ALTR traded down $1.50 during midday trading on Friday, reaching $32.12. The stock had a trading volume of 533,242 shares, compared to its average volume of 441,434. Altair Engineering Inc has a 52 week low of $20.23 and a 52 week high of $43.99. The company has a market capitalization of $2.35 billion and a PE ratio of -50.98.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, August 9th. The semiconductor manufacturer reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Altair Engineering had a negative return on equity of 21.85% and a negative net margin of 23.35%. The company had revenue of $95.60 million for the quarter, compared to the consensus estimate of $91.08 million. The business’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 fiscal year.

Several brokerages have weighed in on ALTR. ValuEngine raised Altair Engineering from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research downgraded Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. William Blair reaffirmed an “outperform” rating on shares of Altair Engineering in a research note on Thursday, August 23rd. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Canaccord Genuity lifted their target price on Altair Engineering from $32.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, August 10th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $39.00.

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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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