Squarepoint Ops LLC Trims Position in Arteris, Inc. $AIP

Key Points

• Squarepoint Ops LLC cut its Arteris stake by 77.3% in the second quarter, selling 125,141 shares and retaining 36,731 shares worth approximately $1.8 million. Institutional investors collectively own 64.36% of the company.
• Arteris shares opened at $20.41, down 1%, after the company reported a quarterly loss of $0.10 per share—worse than the $0.04 expected—despite revenue of $24.13 million exceeding forecasts.
• Analyst sentiment remains broadly positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $41.00; however, insiders sold 1.18 million shares worth $37.7 million during the quarter.

Squarepoint Ops LLC trimmed its position in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) by 77.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,731 shares of the company's stock after selling 125,141 shares during the period. Squarepoint Ops LLC owned 0.07% of Arteris worth $1,785,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Needham Investment Management LLC increased its stake in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock worth $52,878,000 after buying an additional 86,500 shares in the last quarter. Sei Investments Co. lifted its position in shares of Arteris by 43.1% in the first 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 in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Arteris in the fourth quarter valued at about $1,914,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Arteris by 12,206.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,891 shares of the company's stock worth $7,672,000 after acquiring an additional 156,608 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Arteris in the first quarter worth about $2,124,000. Hedge funds and other institutional investors own 64.36% of the company's stock.

Insiders Place Their Bets

In other news, CEO K Janac sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the sale, the chief executive officer directly owned 8,229,071 shares of the company's stock, valued at $170,753,223.25. This represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laurent Moll sold 9,219 shares of the company's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $20.85, for a total value of $192,216.15. Following the sale, the chief operating officer directly owned 212,478 shares in the company, valued at $4,430,166.30. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,177,382 shares of company stock worth $37,652,509. Insiders own 23.30% of the company's stock.

Arteris Trading Down 1.0%

Shares of Arteris stock opened at $20.41 on Wednesday. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -23.46 and a beta of 1.91. The business has a 50-day moving average price of $27.32 and a 200-day moving average price of $27.84. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris, Inc. has a twelve month low of $8.75 and a twelve month high of $50.26.

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 analysts' consensus estimates of ($0.04) by ($0.06). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The firm had revenue of $24.13 million during the quarter, compared to analysts' expectations of $23.48 million. Equities research analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group raised Arteris from a "hold" rating to a "buy" rating and lifted their target price for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Oppenheimer assumed coverage on Arteris in a research note on Thursday, July 16th. They issued an "outperform" rating and a $40.00 price target for the company. Roth Capital assumed coverage on shares of Arteris in a report on Tuesday, August 4th. They set a "buy" rating and a $40.00 price objective for the company. Weiss Ratings upgraded shares of Arteris from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $38.00 target price on shares of Arteris in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.00.

About Arteris

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company's product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.

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