Lazard Asset Management LLC Buys New Holdings in Arteris, Inc. $AIP

Lazard Asset Management LLC purchased a new position in shares of Arteris, Inc. (NASDAQ:AIP) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 129,221 shares of the company’s stock, valued at approximately $2,124,000.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in shares of Arteris in the first quarter valued at approximately $1,621,000. Strs Ohio acquired a new position in shares of Arteris during the 1st quarter worth approximately $104,000. Geode Capital Management LLC raised its stake in Arteris by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after acquiring an additional 30,018 shares during the period. Rhumbline Advisers raised its stake in Arteris by 35.8% in the 2nd quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after acquiring an additional 14,350 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Arteris by 8.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after purchasing an additional 25,448 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Insiders Place Their Bets

In other news, VP Paul L. Alpern sold 6,003 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $35.91, for a total value of $215,567.73. Following the sale, the vice president directly owned 70,733 shares in the company, valued at approximately $2,540,022.03. This trade represents a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nicholas B. Hawkins sold 5,377 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total transaction of $208,520.06. Following the sale, the chief financial officer directly owned 103,172 shares in the company, valued at approximately $4,001,010.16. The trade was a 4.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,369,949 shares of company stock valued at $48,394,826 over the last ninety days. 23.30% of the stock is owned by insiders.

Arteris Price Performance

Shares of Arteris stock opened at $29.88 on Monday. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $36.53 and a two-hundred day simple moving average of $25.77. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -37.82 and a beta of 1.96.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. Analysts forecast that Arteris, Inc. will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Oppenheimer initiated coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Northland Securities set a $38.00 price target on shares of Arteris in a research note on Wednesday, May 13th. Rosenblatt Securities increased their price target on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group raised their price objective on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Arteris currently has an average rating of “Hold” and a consensus target price of $38.20.

Arteris 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.