Renaissance Technologies LLC Has $1.14 Million Stock Position in Arteris, Inc. $AIP

Renaissance Technologies LLC lowered its stake in shares of Arteris, Inc. (NASDAQ:AIP) by 21.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,400 shares of the company’s stock after selling 19,300 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of Arteris worth $1,141,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Huntleigh Advisors Inc. acquired a new stake in Arteris in the 4th quarter worth $1,832,000. Needham Investment Management LLC raised its position in shares of Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Arteris during the fourth quarter valued at about $1,914,000. Sei Investments Co. lifted its stake 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 buying an additional 51,279 shares during the period. Finally, Wesbanco Bank Inc. bought a new stake in shares of Arteris in the first quarter valued at about $559,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Roth Capital began coverage on Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Arteris in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arteris presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling

In related news, VP Paul L. Alpern sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $30.04, for a total transaction of $120,160.00. Following the completion of the transaction, the vice president owned 70,733 shares in the company, valued at $2,124,819.32. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bayview Legacy, Llc sold 26,106 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the completion of the sale, the insider directly owned 8,329,071 shares in the company, valued at approximately $266,280,399.87. This represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,277,914 shares of company stock valued at $44,817,724. 23.30% of the stock is currently owned by company insiders.

Arteris Price Performance

Shares of Arteris stock opened at $27.59 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day simple moving average is $35.18 and its 200-day simple moving average is $26.55. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26. The firm has a market cap of $1.36 billion, a P/E ratio of -31.71 and a beta of 1.96.

Arteris (NASDAQ:AIP) last posted its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. As a group, research analysts expect that Arteris, Inc. will post -0.58 EPS for the current fiscal year.

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.