Arteris (NASDAQ:AIP) Reaches New 12-Month High – Here’s What Happened

Arteris, Inc. (NASDAQ:AIP)’s share price reached a new 52-week high on Wednesday . The company traded as high as $15.92 and last traded at $15.01, with a volume of 136674 shares. The stock had previously closed at $15.51.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AIP. Wall Street Zen upgraded shares of Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Cowen reiterated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. TD Cowen lifted their price objective on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Finally, Rosenblatt Securities raised their price target on Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Arteris Price Performance

The stock has a 50 day moving average of $11.83 and a 200 day moving average of $9.81. The firm has a market cap of $651.27 million, a P/E ratio of -17.95 and a beta of 1.49.

Insider Transactions at Arteris

In other Arteris news, VP Paul L. Alpern sold 10,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $8.88, for a total transaction of $88,800.00. Following the transaction, the vice president directly owned 73,587 shares in the company, valued at $653,452.56. This trade represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of Arteris stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $13.10, for a total transaction of $1,310,000.00. Following the transaction, the insider directly owned 9,739,071 shares in the company, valued at $127,581,830.10. This trade represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 503,980 shares of company stock valued at $6,221,305 over the last 90 days. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Arteris during the 1st quarter valued at $95,000. Acadian Asset Management LLC increased its position in shares of Arteris by 40.6% in the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after acquiring an additional 260,277 shares during the period. Acuitas Investments LLC bought a new position in shares of Arteris during the second quarter valued at about $858,000. Public Employees Retirement System of Ohio bought a new position in shares of Arteris during the second quarter valued at about $203,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Arteris by 48.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 249,517 shares of the company’s stock worth $1,724,000 after purchasing an additional 81,516 shares during the period. Institutional investors own 64.36% of the company’s stock.

About Arteris

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.