Spark Investment Management LLC Takes Position in Arteris, Inc. $AIP

Spark Investment Management LLC purchased a new stake in shares of Arteris, Inc. (NASDAQ:AIP) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,100 shares of the company’s stock, valued at approximately $1,074,000. Arteris accounts for approximately 2.1% of Spark Investment Management LLC’s portfolio, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIP. Versant Capital Management Inc boosted its position in shares of Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Arteris during the 2nd quarter valued at approximately $53,000. Intech Investment Management LLC increased its position in Arteris by 9.3% during the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after buying an additional 1,148 shares in the last quarter. Deutsche Bank AG raised its stake in Arteris by 7.7% during the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after buying an additional 1,504 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in Arteris during the second quarter valued at $87,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Stock Performance

Shares of AIP traded up $1.35 during mid-day trading on Tuesday, hitting $22.72. 787,816 shares of the company traded hands, compared to its average volume of 734,062. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -26.11 and a beta of 1.91. The stock has a 50-day moving average price of $29.26 and a two-hundred day moving average price of $27.55. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Arteris (NASDAQ:AIP) last announced 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 analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Equities analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling at Arteris

In other news, CEO K Janac sold 192,686 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the sale, the chief executive officer owned 8,555,047 shares of the company’s stock, valued at $310,719,307.04. The trade was a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Saiyed 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 value of $2,100,700.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,207,704 shares of company stock worth $39,166,487. 23.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AIP. Roth Capital started coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Oppenheimer began coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective for the company. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, TD Cowen increased their price target on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.