Arteris (NASDAQ:AIP) Hits New 52-Week High - Here's What Happened

Key Points

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Arteris, Inc. (NASDAQ:AIP - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $14.29 and last traded at $13.14, with a volume of 10560515 shares traded. The stock had previously closed at $9.45.

Analysts Set New Price Targets

Several brokerages have recently commented on AIP. TD Cowen boosted their price objective on Arteris from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday. Rosenblatt Securities restated a "buy" rating and issued a $14.00 target price on shares of Arteris in a research report on Wednesday, May 21st.

Arteris Stock Performance

The stock has a 50-day moving average of $9.15 and a two-hundred day moving average of $8.34. The company has a market cap of $396.65 million, a P/E ratio of -11.34 and a beta of 1.45.

Insider Buying and Selling

In other Arteris news, CEO K Charles Janac sold 94,245 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $13.49, for a total value of $1,271,365.05. Following the completion of the sale, the chief executive officer owned 189,785 shares in the company, valued at approximately $2,560,199.65. The trade was a 33.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Laurent R. Moll sold 34,400 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $13.57, for a total value of $466,808.00. Following the completion of the sale, the chief operating officer owned 442,071 shares of the company's stock, valued at $5,998,903.47. The trade was a 7.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 456,043 shares of company stock worth $5,484,028 over the last ninety days. Corporate insiders own 29.10% of the company's stock.

Institutional Trading of Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Arteris in the fourth quarter valued at approximately $46,000. CWM LLC lifted its position in Arteris by 4,810.1% in the first quarter. CWM LLC now owns 10,213 shares of the company's stock valued at $71,000 after purchasing an additional 10,005 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Arteris during the first quarter valued at approximately $95,000. Savant Capital LLC purchased a new position in shares of Arteris during the second quarter valued at approximately $97,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Arteris during the second quarter valued at approximately $104,000. Institutional investors own 64.36% of the company's stock.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.