Arteris, Inc. $AIP Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arteris, Inc. (NASDAQ:AIP) by 12,206.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 157,891 shares of the company’s stock after acquiring an additional 156,608 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.32% of Arteris worth $7,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Arteris in the second quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Arteris during the 2nd quarter worth about $53,000. Versant Capital Management Inc lifted its stake 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 buying an additional 290 shares in 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 valued at $61,000 after buying an additional 2,595 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings 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 buying an additional 3,161 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Arteris Stock Performance

Shares of AIP stock opened at $21.37 on Tuesday. The company’s 50-day moving average price is $29.26 and its 200-day moving average price is $27.55. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -24.56 and a beta of 1.91. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26.

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

Insider Buying and Selling at Arteris

In other news, Director Saiyed Raza sold 70,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.01, for a total value of $2,100,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO K Janac sold 100,000 shares of Arteris stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00. Following the completion of the transaction, the chief executive officer owned 8,229,071 shares in the company, valued at $170,753,223.25. This trade represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,207,704 shares of company stock valued at $39,166,487. 23.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AIP shares. Roth Capital initiated coverage on Arteris in a research note on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective for the company. TD Cowen lifted their price target on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $50.00 in a research report on Friday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.