Hsbc Holdings PLC Makes New Investment in Arteris, Inc. $AIP

Key Points

• HSBC Holdings acquired 64,032 Arteris shares worth approximately $3.13 million, while institutional investors collectively own 64.36% of the company.
• Analysts are broadly bullish: five rate Arteris a Buy and one a Sell, producing a “Moderate Buy” consensus and a $41 average price target.
• Arteris shares opened at $22.41 after falling 1.1%; the company recently missed quarterly EPS expectations, reporting a $0.10 loss per share despite revenue slightly exceeding forecasts.

Hsbc Holdings PLC purchased a new position in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,032 shares of the company's stock, valued at approximately $3,132,000. Hsbc Holdings PLC owned approximately 0.13% of Arteris at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Needham Investment Management LLC boosted its stake in shares of Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock worth $52,878,000 after acquiring an additional 86,500 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Arteris during the 4th quarter worth approximately $1,914,000. Sei Investments Co. raised its stake in Arteris by 43.1% in the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company's stock valued at $2,799,000 after acquiring an additional 51,279 shares during the period. Lazard Asset Management LLC acquired a new stake in Arteris during the 1st quarter valued at $2,124,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arteris during the 2nd quarter valued at $7,381,000. Institutional investors own 64.36% of the company's stock.

Insider Buying and Selling at Arteris

In other news, VP Paul Alpern sold 4,000 shares of Arteris stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total transaction of $83,080.00. Following the transaction, the vice president owned 70,733 shares in the company, valued at approximately $1,469,124.41. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $170,753,223.25. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,207,704 shares of company stock worth $39,166,487 over the last quarter. Insiders own 23.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AIP shares. Jefferies Financial Group raised Arteris from a "hold" rating to a "buy" rating and lifted their price target for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Roth Capital began coverage on Arteris in a report on Tuesday, August 4th. They issued a "buy" rating and a $40.00 price objective on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Oppenheimer started coverage on Arteris in a report on Thursday, July 16th. They set an "outperform" rating and a $40.00 target price for the company. Finally, Weiss Ratings raised shares of 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Arteris presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Arteris Stock Down 1.1%

Shares of AIP opened at $22.41 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Arteris, Inc. has a 52 week low of $8.64 and a 52 week high of $50.26. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -25.76 and a beta of 1.91. The stock has a fifty day moving average of $28.07 and a 200-day moving average of $27.72.

Arteris (NASDAQ:AIP - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.10) 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 during the quarter, compared to the consensus estimate of $23.48 million. As a group, sell-side analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current fiscal 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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