Walleye Trading LLC Makes New Investment in Arteris, Inc. $AIP

Walleye Trading LLC purchased a new stake in shares of Arteris, Inc. (NASDAQ:AIP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,725 shares of the company’s stock, valued at approximately $1,347,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westerly Capital Management LLC lifted its holdings in shares of Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares during the last quarter. Nuveen LLC increased its holdings in Arteris by 872.3% in the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock valued at $11,428,000 after purchasing an additional 661,454 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after purchasing an additional 598,840 shares during the last quarter. Granahan Investment Management LLC increased its holdings in Arteris by 201.0% in the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after purchasing an additional 476,181 shares during the last quarter. Finally, Informed Momentum Co LLC purchased a new stake in Arteris in the fourth quarter valued at approximately $5,755,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Arteris Trading Up 2.6%

Shares of AIP stock opened at $28.32 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 1.57. The stock has a market capitalization of $1.39 billion, a P/E ratio of -32.55 and a beta of 1.96. The company has a 50 day moving average price of $35.06 and a 200 day moving average price of $26.57. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26.

Arteris (NASDAQ:AIP) last announced its earnings results 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 business had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. Equities research analysts predict that Arteris, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AIP has been the topic of a number of research reports. Roth Capital began coverage on Arteris in a research note on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target on the stock. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Oppenheimer initiated coverage on Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 price objective on shares of Arteris in a report on Friday, August 7th. Finally, Northland Securities set a $38.00 target price on Arteris in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Insiders Place Their Bets

In other news, Director Saiyed Atiq Raza sold 70,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $36.02, for a total transaction of $2,521,400.00. Following the sale, the director owned 140,000 shares of the company’s stock, valued at approximately $5,042,800. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO K Charles Janac sold 192,686 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total value of $6,998,355.52. Following the sale, the chief executive officer directly owned 8,555,047 shares in the company, valued at $310,719,307.04. This represents a 2.20% 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 1,288,545 shares of company stock worth $45,118,304 over the last 90 days. Corporate insiders own 23.30% of the company’s stock.

Arteris Company 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.