Ieq Capital LLC Takes $4.43 Million Position in Arteris, Inc. $AIP

Ieq Capital LLC bought a new position in shares of Arteris, Inc. (NASDAQ:AIP) in the second quarter, Holdings Channel reports. The firm bought 91,199 shares of the company’s stock, valued at approximately $4,431,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIP. Raymond James Financial Inc. purchased a new position in Arteris in the second quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Arteris during the second quarter worth approximately $53,000. Versant Capital Management Inc increased its position in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after acquiring an additional 290 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares during the period. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Price Performance

AIP stock opened at $23.89 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The stock’s 50 day moving average is $33.97 and its two-hundred day moving average is $26.98. The company has a market capitalization of $1.17 billion, a PE ratio of -27.46 and a beta of 1.96.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Bayview Legacy, Llc sold 26,106 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the sale, the insider directly owned 8,329,071 shares of the company’s stock, valued at $266,280,399.87. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO K Charles Janac sold 26,106 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total transaction of $834,608.82. Following the transaction, the chief executive officer owned 8,329,071 shares in the company, valued at $266,280,399.87. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,288,545 shares of company stock valued at $45,118,304. 23.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AIP has been the topic of several recent research reports. Northland Securities set a $38.00 target price on shares of Arteris in a report on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Oppenheimer started coverage on Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

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.