The Altium Limited (ASX: ALU) share price has been flat for the last two months. Has it finally reached its limit?

About Altium

Altium is a little Aussie company that is a world leader in the design of software for printed circuit boards (PCB’s). At their half-year result in February they announced 24% revenue growth and a whopping 58% profit growth. Every electronic device contains a PCB and with the explosion in smart connected devices, Altium could have further opportunity to grow.

What’s Happening With The Share Price?

Over a 12-month period, the Altium share price has seen impressive growth of 67.6%. In the last two months, however, it has been flat.

We’re now at the end of April and the share price sits at $34.06, about $1 higher than it was at the end of February. After a year of high growth, it looks like the share price hasn’t done much over the last couple of months.

In actual fact, the high price between the end of February and today was $35.01 and the low price was $31.32, a difference of nearly 12%. So, the share price is moving, there’s just no clear trend upwards or downwards.

Looking back at past prices, this is fairly typical. As I mentioned, over the last 12 months the share price has grown 67.62%, but over the last six months it has grown 65.34%.

What Does All This Mean?

While the Altium share price looks stagnant right now, Altium is a volatile company to hold. It’s also a very high-quality company, as outlined in this Rask Media article.

I think a patient investor willing to wait on the sidelines could see a much more attractive price for the company. It’s impossible to say when but looking at the past price movements it seems likely that the share price could drop to a level that would make me want to buy shares.

For now, though, I’m happy to wait on the sidelines. For other growth share ideas, check out the companies in the free report below.

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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).

Disclaimer: At the time of writing, Max does not own shares in any of the companies mentioned.