Roubaix Capital LLC Buys Shares of 233,726 Arteris, Inc. $AIP

Roubaix Capital LLC bought a new position in Arteris, Inc. (NASDAQ:AIP) in the third quarter, Holdings Channel.com reports. The firm bought 233,726 shares of the company’s stock, valued at approximately $2,361,000.

Other hedge funds also recently made changes to their positions in the company. Strs Ohio increased its position in Arteris by 16.5% during the 3rd quarter. Strs Ohio now owns 20,500 shares of the company’s stock worth $207,000 after purchasing an additional 2,900 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Arteris in the second quarter valued at approximately $32,000. Bank of America Corp DE grew its stake in shares of Arteris by 11.8% during the second quarter. Bank of America Corp DE now owns 57,093 shares of the company’s stock worth $544,000 after buying an additional 6,008 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Arteris by 3.6% during the third quarter. Essex Investment Management Co. LLC now owns 292,159 shares of the company’s stock worth $2,951,000 after buying an additional 10,156 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Arteris during the second quarter worth $97,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Northland Securities set a $24.00 price objective on Arteris in a report on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. TD Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.17.

Arteris Price Performance

Shares of AIP opened at $17.02 on Tuesday. The business has a 50-day moving average of $15.89 and a 200-day moving average of $13.75. The company has a market capitalization of $773.90 million, a price-to-earnings ratio of -20.76 and a beta of 1.45. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $19.85.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to the consensus estimate of $18.55 million. As a group, sell-side analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current year.

Insider Activity

In related news, Director Saiyed Atiq Raza sold 11,762 shares of Arteris stock in a transaction on Friday, February 27th. The shares were sold at an average price of $17.01, for a total transaction of $200,071.62. Following the completion of the transaction, the director owned 499,721 shares of the company’s stock, valued at $8,500,254.21. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bayview Legacy, Llc sold 2,756 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $15.03, for a total transaction of $41,422.68. Following the sale, the insider directly owned 9,349,071 shares in the company, valued at $140,516,537.13. This trade represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 771,797 shares of company stock valued at $12,961,426. 33.70% of the stock is owned by corporate insiders.

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.