Algert Global LLC Makes New Investment in Arteris, Inc. $AIP

Key Points

• Algert Global LLC initiated a position in Arteris by purchasing 238,772 shares valued at approximately $11.6 million, giving it a 0.49% stake. Institutional investors collectively own 64.36% of the company.
• Analyst sentiment is largely positive: five analysts rate Arteris a Buy and one rates it Sell, resulting in a consensus “Moderate Buy” rating and a $41 average price target. Jefferies raised its target to $50.
• Arteris reported quarterly revenue of $24.13 million, ahead of expectations, but its adjusted loss of $0.10 per share missed estimates. Meanwhile, insiders sold about 1.25 million shares worth $43.6 million over the past three months.

Algert Global LLC purchased a new stake in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 238,772 shares of the company's stock, valued at approximately $11,602,000. Algert Global LLC owned 0.49% of Arteris at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Needham Investment Management LLC grew its holdings in Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock valued at $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Arteris during the 4th quarter worth $1,914,000. Sei Investments Co. boosted its position in shares of Arteris by 43.1% in the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company's stock worth $2,799,000 after buying an additional 51,279 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Arteris in the 1st quarter worth about $2,124,000. Finally, Granahan Investment Management LLC grew its stake 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 acquiring an additional 476,181 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company's stock.

Analyst Upgrades and Downgrades

AIP has been the topic of several recent research reports. TD Cowen upped their price target on shares of Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of Arteris from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday. Rosenblatt Securities restated a "buy" rating and set a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Jefferies Financial Group raised Arteris from a "hold" rating to a "buy" rating and upped their target price for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Northland Securities set a $38.00 price target on Arteris in a research report on Wednesday, May 13th. Five research 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 a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Insider Activity at Arteris

In other news, VP Paul L. Alpern sold 4,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.04, for a total transaction of $120,160.00. Following the completion of the sale, the vice president directly owned 70,733 shares in the company, valued at $2,124,819.32. This represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nicholas B. Hawkins sold 10,431 shares of the stock in a transaction on Thursday, August 13th. The stock was 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 directly owned 95,666 shares in the company, valued at $2,703,521.16. This trade represents a 9.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,247,045 shares of company stock worth $43,571,699. 23.30% of the stock is owned by corporate insiders.

Arteris Stock Performance

Shares of NASDAQ AIP opened at $23.23 on Wednesday. The company has a 50-day simple moving average of $33.18 and a 200-day simple moving average of $27.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $1.14 billion, a PE ratio of -26.70 and a beta of 1.96. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26.

Arteris (NASDAQ:AIP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $23.48 million. On average, equities analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current year.

About Arteris

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.

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