Tygh Capital Management Inc. Has $12.13 Million Holdings in Altair Engineering Inc (ALTR)

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Tygh Capital Management Inc. trimmed its position in Altair Engineering Inc (NASDAQ:ALTR) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,218 shares of the semiconductor manufacturer’s stock after selling 8,195 shares during the period. Altair Engineering makes up approximately 2.0% of Tygh Capital Management Inc.’s holdings, making the stock its 10th biggest holding. Tygh Capital Management Inc.’s holdings in Altair Engineering were worth $12,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Rhumbline Advisers raised its stake in shares of Altair Engineering by 8.4% in the 3rd quarter. Rhumbline Advisers now owns 25,688 shares of the semiconductor manufacturer’s stock valued at $1,116,000 after acquiring an additional 1,982 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Altair Engineering by 1,542.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 83,207 shares of the semiconductor manufacturer’s stock valued at $3,616,000 after acquiring an additional 78,140 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Altair Engineering in the 3rd quarter valued at approximately $832,000. Zions Bancorporation purchased a new stake in shares of Altair Engineering in the 3rd quarter valued at approximately $227,000. Finally, Wells Fargo & Company MN raised its stake in shares of Altair Engineering by 12.2% in the 3rd quarter. Wells Fargo & Company MN now owns 648,576 shares of the semiconductor manufacturer’s stock valued at $28,181,000 after acquiring an additional 70,432 shares during the period. Institutional investors own 35.56% of the company’s stock.

A number of equities research analysts have recently issued reports on ALTR shares. Zacks Investment Research downgraded shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of Altair Engineering from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Canaccord Genuity boosted their price target on shares of Altair Engineering from $32.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, August 10th. Needham & Company LLC boosted their price target on shares of Altair Engineering from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Royal Bank of Canada boosted 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.50.

Shares of ALTR opened at $32.90 on Wednesday. Altair Engineering Inc has a fifty-two week low of $20.50 and a fifty-two week high of $43.99. The company has a market cap of $2.26 billion and a P/E ratio of -52.22.

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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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