State of Wyoming Acquires Shares of 47,716 Arteris, Inc. $AIP

State of Wyoming bought a new position in shares of Arteris, Inc. (NASDAQ:AIP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 47,716 shares of the company’s stock, valued at approximately $455,000. State of Wyoming owned about 0.11% of Arteris as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Arteris during the second quarter worth about $32,000. Bank of America Corp DE lifted its stake in Arteris by 11.8% in the 2nd quarter. Bank of America Corp DE now owns 57,093 shares of the company’s stock worth $544,000 after purchasing an additional 6,008 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Arteris during the 2nd quarter worth approximately $97,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Arteris in the second quarter valued at approximately $104,000. Finally, Rhumbline Advisers grew its position in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after purchasing an additional 14,350 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIP has been the topic of a number of recent research reports. Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. TD Cowen upped their price objective on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arteris currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Insiders Place Their Bets

In other news, major shareholder Bayview Legacy, Llc sold 100,000 shares of Arteris stock in a transaction on Monday, October 6th. The stock was sold at an average price of $13.10, for a total value of $1,310,000.00. Following the completion of the sale, the insider directly owned 9,739,071 shares of the company’s stock, valued at approximately $127,581,830.10. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO K Charles Janac sold 100,000 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $13.10, for a total value of $1,310,000.00. Following the transaction, the chief executive officer directly owned 9,739,071 shares in the company, valued at approximately $127,581,830.10. The trade was a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 820,825 shares of company stock worth $12,276,775 over the last 90 days. 33.70% of the stock is owned by insiders.

Arteris Trading Down 0.9%

Shares of AIP opened at $15.78 on Wednesday. The company’s 50-day moving average price is $14.49 and its 200 day moving average price is $11.20. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85. The firm has a market cap of $689.27 million, a P/E ratio of -19.01 and a beta of 1.49.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $17.41 million during the quarter, compared to analyst estimates of $17.00 million. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. Equities research analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current year.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.