UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Arteris, Inc. $AIP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Arteris, Inc. (NASDAQ:AIP) by 12,206.4% in the second quarter, Holdings Channel.com reports. The fund owned 157,891 shares of the company’s stock after purchasing an additional 156,608 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Arteris were worth $7,672,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Arteris in the 2nd quarter valued at approximately $53,000. Versant Capital Management Inc grew its holdings in Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Arteris in the second quarter valued at $87,000. Raymond James Financial Inc. acquired a new position in shares of Arteris during the 2nd quarter worth $32,000. Finally, State of Wyoming acquired a new position in shares of Arteris during the 2nd quarter worth $165,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Price Performance

NASDAQ:AIP opened at $21.37 on Tuesday. Arteris, Inc. has a 12-month low of $8.42 and a 12-month high of $50.26. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -24.56 and a beta of 1.91. The company’s 50-day moving average is $29.26 and its two-hundred day moving average is $27.55. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Roth Capital assumed coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective on the stock. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 price target on shares of Arteris in a research report on Friday, August 7th. TD Cowen raised their price objective on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling at Arteris

In related news, major shareholder Bayview Legacy, Llc sold 100,000 shares of Arteris stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00. Following the transaction, the insider owned 8,229,071 shares in the company, valued at approximately $170,753,223.25. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Alpern sold 4,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $20.77, for a total value of $83,080.00. Following the sale, the vice president owned 70,733 shares of the company’s stock, valued at $1,469,124.41. This represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,207,704 shares of company stock worth $39,166,487. 23.30% of the stock is currently owned by company 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.