Hsbc Holdings PLC Invests $3.13 Million in Arteris, Inc. $AIP

Hsbc Holdings PLC purchased a new stake in shares of Arteris, Inc. (NASDAQ:AIP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 64,032 shares of the company’s stock, valued at approximately $3,132,000. Hsbc Holdings PLC owned about 0.13% of Arteris at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Arteris in the second quarter worth approximately $160,129,000. Westerly Capital Management LLC grew its position in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares in the last quarter. Nuveen LLC grew its position in Arteris by 872.3% in the fourth quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after acquiring an additional 661,454 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the last quarter. Finally, Granahan Investment Management LLC increased its stake in shares of Arteris by 201.0% during the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after purchasing an additional 476,181 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Roth Capital began coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective for the company. Northland Securities set a $38.00 target price on shares of Arteris in a research report on Wednesday, May 13th. Oppenheimer assumed coverage on Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $50.00 in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Arteris Trading Down 6.8%

Shares of NASDAQ:AIP opened at $22.01 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. The stock’s 50-day moving average is $31.94 and its 200-day moving average is $27.19. The company has a market cap of $1.08 billion, a P/E ratio of -25.30 and a beta of 1.96. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Equities research analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Paul L. Alpern sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $30.04, for a total value of $120,160.00. Following the sale, the vice president owned 70,733 shares in the company, valued at approximately $2,124,819.32. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Saiyed Atiq Raza sold 70,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.01, for a total transaction of $2,100,700.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,247,045 shares of company stock valued at $43,571,699 in the last ninety days. Company insiders own 23.30% of the company’s stock.

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.