Arteris (NASDAQ:AIP) Sets New 1-Year High – Here’s Why

Shares of Arteris, Inc. (NASDAQ:AIP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $24.10 and last traded at $23.58, with a volume of 723803 shares. The stock had previously closed at $22.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Northland Securities set a $24.00 price target on shares of Arteris in a report on Friday, February 13th. Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.17.

Arteris Stock Performance

The company has a market cap of $1.07 billion, a price-to-earnings ratio of -28.76 and a beta of 1.43. The business’s 50 day moving average price is $16.88 and its 200-day moving average price is $15.76.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. On average, equities research analysts expect that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Arteris

In other Arteris news, Director Saiyed Atiq Raza sold 106,031 shares of Arteris stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $17.21, for a total transaction of $1,824,793.51. Following the completion of the transaction, the director directly owned 393,690 shares of the company’s stock, valued at approximately $6,775,404.90. This trade represents a 21.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00. Following the transaction, the insider directly owned 9,119,071 shares of the company’s stock, valued at approximately $173,627,111.84. The trade was a 0.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 731,923 shares of company stock valued at $12,913,251. 33.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Roubaix Capital LLC bought a new position in shares of Arteris during the third quarter valued at $2,361,000. Granahan Investment Management LLC lifted its holdings in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after acquiring an additional 546,341 shares during the period. Herald Investment Management Ltd lifted its holdings in shares of Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock valued at $4,036,000 after acquiring an additional 100,000 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Arteris by 59.3% in the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company’s stock valued at $1,334,000 after buying an additional 49,153 shares during the last quarter. Finally, Apis Capital Advisors LLC bought a new position in shares of Arteris in the third quarter valued at about $606,000. 64.36% of the stock is owned by institutional investors.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.