Hsbc Holdings PLC Purchases Shares of 64,032 Arteris, Inc. $AIP

Hsbc Holdings PLC acquired a new position in shares of Arteris, Inc. (NASDAQ:AIP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 64,032 shares of the company’s stock, valued at approximately $3,132,000.

A number of other institutional investors and hedge funds have also modified their holdings of AIP. Needham Investment Management LLC increased its holdings in Arteris by 2.6% in 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 period. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Arteris during the 4th quarter valued at about $1,914,000. Sei Investments Co. boosted its position in shares of Arteris by 43.1% during the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after acquiring an additional 51,279 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Arteris in the first quarter valued at about $2,124,000. Finally, Granahan Investment Management LLC increased its stake in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after acquiring an additional 476,181 shares during the period. 64.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arteris

In related news, Director Saiyed Atiq Raza sold 70,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.01, for a total transaction of $2,100,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicholas B. Hawkins sold 10,431 shares of Arteris stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $28.26, for a total value of $294,780.06. Following the completion of the transaction, the chief financial officer owned 95,666 shares of the company’s stock, valued at approximately $2,703,521.16. The trade was a 9.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,247,045 shares of company stock worth $43,571,699 over the last 90 days. Company insiders own 23.30% of the company’s stock.

Arteris Trading Down 6.8%

Shares of AIP stock opened at $22.01 on Friday. The company has a market capitalization of $1.08 billion, a P/E ratio of -25.30 and a beta of 1.96. Arteris, Inc. has a 12-month low of $8.42 and a 12-month high of $50.26. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $31.94 and a 200 day moving average price of $27.19.

Arteris (NASDAQ:AIP) last issued 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). The firm had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. Research analysts forecast that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AIP. Rosenblatt Securities restated a “buy” rating and set a $38.00 price target on shares of Arteris in a research note on Friday, August 7th. TD Cowen upped their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Oppenheimer began coverage on Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price for the company. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Roth Capital began coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.