Algert Global LLC Acquires New Shares in Arteris, Inc. (NASDAQ:AIP)

Algert Global LLC bought a new position in shares of Arteris, Inc. (NASDAQ:AIP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,368 shares of the company’s stock, valued at approximately $115,000.

Several other large investors also recently bought and sold shares of AIP. Vanguard Group Inc. raised its position in shares of Arteris by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after purchasing an additional 3,242 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Arteris by 6.1% in the second quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock worth $861,000 after acquiring an additional 6,600 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Arteris in the second quarter valued at $86,000. GSA Capital Partners LLP boosted its stake in shares of Arteris by 26.9% during the first quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock valued at $973,000 after acquiring an additional 28,165 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Arteris by 2,182.8% during the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock worth $239,000 after purchasing an additional 30,428 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AIP. Westpark Capital restated a “buy” rating and issued a $11.00 target price on shares of Arteris in a report on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Arteris in a research report on Monday, August 5th.

Arteris Trading Up 3.1 %

NASDAQ AIP opened at $7.58 on Friday. The company has a market cap of $291.67 million, a P/E ratio of -7.36 and a beta of 1.11. Arteris, Inc. has a 12 month low of $4.20 and a 12 month high of $9.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average of $7.46 and a 200-day moving average of $7.64.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. The company had revenue of $14.58 million for the quarter, compared to analysts’ expectations of $13.68 million. During the same period in the prior year, the business earned ($0.25) EPS. As a group, equities analysts predict that Arteris, Inc. will post -0.9 earnings per share for the current year.

Insider Activity at Arteris

In other news, Director Wayne C. Cantwell sold 15,000 shares of Arteris stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.95, for a total value of $104,250.00. Following the transaction, the director now directly owns 243,198 shares of the company’s stock, valued at $1,690,226.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Arteris news, VP Paul L. Alpern sold 11,250 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $7.71, for a total transaction of $86,737.50. Following the transaction, the vice president now owns 74,563 shares in the company, valued at $574,880.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wayne C. Cantwell sold 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.95, for a total value of $104,250.00. Following the completion of the sale, the director now directly owns 243,198 shares of the company’s stock, valued at $1,690,226.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,360 shares of company stock worth $988,781. 33.70% of the stock is owned by insiders.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.