Roubaix Capital LLC Purchases New Stake in Arteris, Inc. $AIP

Roubaix Capital LLC purchased a new stake in shares of Arteris, Inc. (NASDAQ:AIP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 233,726 shares of the company’s stock, valued at approximately $2,361,000. Roubaix Capital LLC owned about 0.54% of Arteris at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIP. AQR Capital Management LLC bought a new position in shares of Arteris in the first quarter valued at about $1,621,000. Strs Ohio acquired a new position in Arteris in the 1st quarter valued at about $104,000. Savant Capital LLC bought a new position in Arteris in the 2nd quarter valued at about $97,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arteris during the second quarter worth approximately $151,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Arteris during the second quarter worth approximately $254,000. 64.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Northland Securities set a $24.00 price objective on Arteris in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.17.

Arteris Stock Up 0.2%

AIP stock opened at $17.02 on Tuesday. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85. The business has a 50-day simple moving average of $15.89 and a 200 day simple moving average of $13.75. The company has a market cap of $773.90 million, a PE ratio of -20.76 and a beta of 1.45.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. On average, analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Bayview Legacy, Llc sold 2,756 shares of Arteris stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $15.03, for a total value of $41,422.68. Following the transaction, the insider directly owned 9,349,071 shares of the company’s stock, valued at $140,516,537.13. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul L. Alpern sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $15.48, for a total transaction of $77,400.00. Following the transaction, the vice president owned 57,650 shares of the company’s stock, valued at approximately $892,422. This represents a 7.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 771,797 shares of company stock worth $12,961,426. Insiders own 33.70% of the company’s stock.

Arteris Company 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.