Ieq Capital LLC Buys Shares of 91,199 Arteris, Inc. $AIP

Ieq Capital LLC bought a new position in shares of Arteris, Inc. (NASDAQ:AIP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 91,199 shares of the company’s stock, valued at approximately $4,431,000. Ieq Capital LLC owned about 0.19% of Arteris at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Huntleigh Advisors Inc. purchased a new position in shares of Arteris during the 4th quarter worth approximately $1,832,000. Needham Investment Management LLC raised its position in shares of Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in Arteris in the 4th quarter valued at approximately $1,914,000. Sei Investments Co. lifted its stake in Arteris by 43.1% in the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after buying an additional 51,279 shares in the last quarter. Finally, Granahan Investment Management LLC grew its holdings in Arteris by 201.0% during the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after buying an additional 476,181 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Insider Buying and Selling

In other Arteris news, major shareholder Bayview Legacy, Llc sold 192,686 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the insider owned 8,555,047 shares of the company’s stock, valued at $310,719,307.04. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO K Charles Janac sold 192,686 shares of Arteris stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the transaction, the chief executive officer owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. This trade represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 1,288,545 shares of company stock valued at $45,118,304. Insiders own 23.30% of the company’s stock.

Arteris Stock Performance

NASDAQ AIP opened at $23.89 on Monday. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26. The company has a 50-day moving average of $33.97 and a 200-day moving average of $26.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $1.17 billion, a P/E ratio of -27.46 and a beta of 1.96.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Oppenheimer assumed coverage on Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Rosenblatt Securities restated a “buy” rating and issued a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Northland Securities set a $38.00 price objective on Arteris in a research note on Wednesday, May 13th. Finally, Roth Capital began coverage on Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.