Arteris (NASDAQ:AIP) Sets New 12-Month High – Here’s What Happened

Arteris, Inc. (NASDAQ:AIP) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.92 and last traded at $15.01, with a volume of 136674 shares trading hands. The stock had previously closed at $15.51.

Wall Street Analyst Weigh In

AIP has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded Arteris to a “hold” rating in a report on Tuesday, October 28th. Rosenblatt Securities boosted their price objective on shares of Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. TD Cowen upped their price objective on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Arteris Price Performance

The firm has a market cap of $651.27 million, a PE ratio of -17.95 and a beta of 1.49. The firm has a 50-day simple moving average of $11.83 and a 200 day simple moving average of $9.81.

Insider Buying and Selling at Arteris

In related news, COO Laurent R. Moll sold 32,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $15.42, for a total value of $505,390.50. Following the sale, the chief operating officer owned 311,110 shares in the company, valued at $4,797,316.20. This represents a 9.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Nicholas B. Hawkins sold 6,421 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $13.21, for a total value of $84,821.41. Following the transaction, the chief financial officer directly owned 93,590 shares of the company’s stock, valued at approximately $1,236,323.90. This trade represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 503,980 shares of company stock valued at $6,221,305 over the last three months. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. purchased a new stake in Arteris during the 1st quarter valued at about $95,000. CWM LLC raised its holdings in Arteris by 4,810.1% in the first quarter. CWM LLC now owns 10,213 shares of the company’s stock worth $71,000 after buying an additional 10,005 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Arteris in the first quarter worth approximately $328,000. Federated Hermes Inc. grew its holdings in shares of Arteris by 97.2% during the first quarter. Federated Hermes Inc. now owns 327,119 shares of the company’s stock valued at $2,260,000 after buying an additional 161,241 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Arteris during the first quarter valued at approximately $349,000. 64.36% of the stock is owned by institutional investors.

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.