Arteris (NASDAQ:AIP) Hits New 1-Year High – Here’s What Happened

Arteris, Inc. (NASDAQ:AIP)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $27.11 and last traded at $26.60, with a volume of 937757 shares changing hands. The stock had previously closed at $26.72.

Analyst Ratings Changes

AIP has been the subject of several analyst reports. Wall Street Zen raised Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arteris in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Monday, April 20th. Finally, Northland Securities set a $24.00 price objective on Arteris in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.17.

Arteris Stock Performance

The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -32.96 and a beta of 1.43. The business has a fifty day moving average of $18.22 and a two-hundred day moving average of $16.27.

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

Insider Activity

In other Arteris news, CEO K Charles Janac sold 70,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $19.04, for a total transaction of $1,332,800.00. Following the sale, the chief executive officer owned 9,119,071 shares in the company, valued at approximately $173,627,111.84. This represents a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Laurent R. Moll sold 13,448 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $20.03, for a total value of $269,363.44. Following the sale, the chief operating officer owned 265,530 shares in the company, valued at approximately $5,318,565.90. This trade represents a 4.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 736,923 shares of company stock worth $13,038,551 in the last quarter. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arteris

A number of large investors have recently bought and sold shares of the stock. Needham Investment Management LLC grew its holdings in Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Arteris by 6.2% during the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after purchasing an additional 101,646 shares during the period. Vanguard Group Inc. lifted its stake in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after purchasing an additional 120,947 shares during the period. Westerly Capital Management LLC lifted its stake in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the period. Institutional investors and hedge funds own 64.36% of the company’s stock.

About Arteris

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.