Lazard Asset Management LLC Acquires New Holdings in Arteris, Inc. $AIP

Lazard Asset Management LLC bought a new stake in Arteris, Inc. (NASDAQ:AIP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 129,221 shares of the company's stock, valued at approximately $2,124,000. Lazard Asset Management LLC owned approximately 0.28% of Arteris as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets raised its stake in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock worth $61,000 after buying an additional 2,595 shares during the period. Strs Ohio bought a new position in Arteris during the first quarter worth about $104,000. Susquehanna Fundamental Investments LLC bought a new position in Arteris during the third quarter worth about $113,000. Finally, New York State Common Retirement Fund grew its stake in Arteris by 352.4% in the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company's stock valued at $147,000 after acquiring an additional 7,400 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIP. Oppenheimer assumed coverage on Arteris in a research report on Thursday, July 16th. They issued an "outperform" rating and a $40.00 price objective for the company. Weiss Ratings downgraded shares of Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Jefferies Financial Group lifted their price target on shares of Arteris from $16.00 to $35.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. TD Cowen increased their target price on Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Rosenblatt Securities lifted their price target on Arteris from $20.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $38.20.

Arteris Stock Performance

Shares of AIP opened at $29.88 on Monday. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26. The firm has a fifty day simple moving average of $36.53 and a 200 day simple moving average of $25.77. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -37.82 and a beta of 1.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. Research analysts forecast that Arteris, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Laurent R. Moll sold 5,599 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total transaction of $217,129.22. Following the sale, the chief operating officer owned 221,697 shares in the company, valued at approximately $8,597,409.66. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Bayview Legacy, Llc sold 125,976 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $35.79, for a total value of $4,508,681.04. Following the transaction, the insider directly owned 8,429,071 shares of the company's stock, valued at $301,676,451.09. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,369,949 shares of company stock valued at $48,394,826 in the last quarter. 23.30% of the stock is currently owned by corporate 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.

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