Altair Engineering Inc (NASDAQ:ALTR)’s share price reached a new 52-week high and low during trading on Thursday . The company traded as low as $37.77 and last traded at $36.46, with a volume of 14519 shares trading hands. The stock had previously closed at $37.33.

A number of research firms have commented on ALTR. Royal Bank of Canada boosted their price target on shares of Altair Engineering to $38.00 and gave the company a “sector perform” rating in a research report on Monday. Zacks Investment Research upgraded shares of Altair Engineering from a “sell” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, May 22nd. Berenberg Bank restated a “buy” rating and issued a $36.00 price target on shares of Altair Engineering in a research report on Thursday, May 17th. ValuEngine upgraded shares of Altair Engineering from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Needham & Company LLC began coverage on shares of Altair Engineering in a research note on Monday, March 26th. They issued a “buy” rating and a $36.00 target price for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Altair Engineering currently has an average rating of “Buy” and an average price target of $34.88.

The company has a market capitalization of $2.26 billion and a price-to-earnings ratio of -58.37. 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 announced its earnings results 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 company had revenue of $91.70 million during the quarter, compared to the consensus estimate of $87.01 million. The firm’s revenue was up 19.2% compared to the same quarter last year. equities analysts predict that Altair Engineering Inc will post 0.27 EPS for the current fiscal year.

In other Altair Engineering news, major shareholder George J. Christ sold 600,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $33.43, for a total value of $20,058,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Ralph Scapa sold 1,075,420 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $33.43, for a total transaction of $35,951,290.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,106,420 shares of company stock valued at $70,417,621. Insiders own 38.24% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Altair Engineering by 105.2% during the first quarter. Royal Bank of Canada now owns 1,312,947 shares of the semiconductor manufacturer’s stock worth $41,175,000 after buying an additional 673,190 shares during the last quarter. Contour Asset Management LLC bought a new stake in shares of Altair Engineering during the first quarter worth approximately $17,691,000. Millennium Management LLC raised its stake in shares of Altair Engineering by 324.4% during the first quarter. Millennium Management LLC now owns 267,839 shares of the semiconductor manufacturer’s stock worth $8,399,000 after buying an additional 204,724 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Altair Engineering during the first quarter worth approximately $289,000. Finally, Element Capital Management LLC bought a new stake in shares of Altair Engineering during the first quarter worth approximately $789,000. 23.22% of the stock is owned by institutional investors and hedge funds.

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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