Walleye Trading LLC Invests $1.35 Million in Arteris, Inc. $AIP

Walleye Trading LLC bought a new stake in Arteris, Inc. (NASDAQ:AIP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,725 shares of the company’s stock, valued at approximately $1,347,000. Walleye Trading LLC owned about 0.06% of Arteris as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in Arteris during the 2nd quarter valued at about $32,000. Versant Capital Management Inc raised its holdings in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after acquiring an additional 290 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares in the last quarter. Royal Bank of Canada lifted its stake in Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Arteris during the 1st quarter worth approximately $104,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIP has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Arteris in a research report on Friday, August 7th. TD Cowen lifted their price objective on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Rosenblatt Securities reissued a “buy” rating and set a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Roth Capital began coverage on Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling

In other Arteris news, CEO K Charles Janac sold 192,686 shares of Arteris stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total value of $6,998,355.52. Following the sale, the chief executive officer owned 8,555,047 shares in the company, valued at $310,719,307.04. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Bayview Legacy, Llc sold 192,686 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total value of $6,998,355.52. Following the completion of the transaction, the insider directly owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. This trade represents a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,288,545 shares of company stock worth $45,118,304. Company insiders own 23.30% of the company’s stock.

Arteris Stock Performance

NASDAQ:AIP opened at $28.32 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 0.73. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -32.55 and a beta of 1.96. The company’s 50-day moving average is $35.06 and its two-hundred day moving average is $26.57. Arteris, Inc. has a 1-year low of $8.42 and a 1-year high of $50.26.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. Analysts forecast that Arteris, Inc. will post -0.58 EPS for the current year.

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.