Needham analyst Charles Shi has maintained their neutral stance on ALTR stock, giving a Hold rating today.
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Charles Shi has given his Hold rating due to a combination of factors related to Altair Engineering’s recent financial performance and its acquisition by Siemens. The company reported stronger than expected financial results for the fourth quarter and full year 2024, surpassing the management’s prior guidance. However, despite this positive performance, the acquisition by Siemens, expected to conclude in the first half of 2025, introduces a level of uncertainty that might impact future stock performance.
While the acquisition process appears to be proceeding smoothly with regulatory approvals on track, the impending change in ownership structure warrants a cautious approach. By assigning a Hold rating, Charles Shi suggests that investors might want to wait for further clarity on the integration and potential synergies post-acquisition before making any decisive moves on Altair’s stock.
According to TipRanks, Shi is a 4-star analyst with an average return of 5.2% and a 44.97% success rate. Shi covers the Technology sector, focusing on stocks such as KLA, Lam Research, and Applied Materials.
In another report released today, Rosenblatt Securities also maintained a Hold rating on the stock with a $113.00 price target.