10 Best 3D Printing and Additive Manufacturing Stocks To Buy

7. Altair Engineering Inc. (NASDAQ:ALTR)

Number of Hedge Fund Holders: 21

Altair Engineering Inc. (NASDAQ:ALTR) is an application software company based in Troy, Michigan. The company reported a successful second quarter, with total revenues rising to $148.8 million. Software revenues for the company came in at $135.4 million, representing a 10.6% year-over-year increase. Software revenue amounts to 91% of the company’s total revenue, a figure that underscores the importance of Altair Engineering Inc.’s (NASDAQ:ALTR) software operations.

Recently, Altair Engineering Inc. (NASDAQ:ALTR) has expanded its domination in the 3D printing market by acquiring Metrics Design Automation. The company also benefits from enhanced artificial intelligence capabilities in its Altair HyperWorks 2024 platform, making it a strong stock pick for investors today.

A total of 21 hedge funds were long Altair Engineering Inc. (NASDAQ:ALTR) in the first quarter, with a total stake value of $1.3 billion. ARK Investment Management was the largest stakeholder in the company at the end of the first quarter, holding 50,530 shares.

Conestoga Capital Advisors mentioned Altair Engineering Inc. (NASDAQ:ALTR) in its fourth-quarter 2023 investor letter:

“Altair Engineering Inc. (NASDAQ:ALTR): ALTR, a leader in design and simulation software, reported strong earnings during the quarter, beating across all metrics. Adjusted EBITDA margins jumped almost 600 basis points year-over-year, leading to significantly higher profitability. ALTR is not seeing pressure from a softer macroeconomic environment domestically or in China, a dynamic some of their peers mentioned during their earnings calls. ALTR called out particular strength in the aerospace, auto and technology verticals.”