Algert Global LLC Acquires Shares of 15,368 Arteris, Inc. (NASDAQ:AIP)

Algert Global LLC acquired a new stake in shares of Arteris, Inc. (NASDAQ:AIP) during the second quarter, Holdings Channel reports. The fund acquired 15,368 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds also recently added to or reduced their stakes in AIP. The Manufacturers Life Insurance Company acquired a new stake in Arteris during the second quarter valued at approximately $86,000. Rhumbline Advisers raised its position in shares of Arteris by 2,182.8% during the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock valued at $239,000 after acquiring an additional 30,428 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in Arteris during the second quarter worth $554,000. Bank of New York Mellon Corp acquired a new position in Arteris in the second quarter worth $580,000. Finally, Renaissance Technologies LLC increased its stake in Arteris by 6.1% during the second quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock valued at $861,000 after purchasing an additional 6,600 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Stock Performance

Shares of AIP opened at $7.58 on Friday. The firm has a fifty day moving average of $7.46 and a 200-day moving average of $7.64. The company has a market cap of $291.67 million, a price-to-earnings ratio of -7.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14. Arteris, Inc. has a 1 year low of $4.20 and a 1 year high of $9.54.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Arteris news, CEO K Charles Janac sold 5,520 shares of Arteris stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $7.18, for a total transaction of $39,633.60. Following the sale, the chief executive officer now owns 287,247 shares of the company’s stock, valued at $2,062,433.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arteris news, CEO K Charles Janac sold 5,520 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $7.18, for a total transaction of $39,633.60. Following the transaction, the chief executive officer now owns 287,247 shares of the company’s stock, valued at approximately $2,062,433.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul L. Alpern sold 3,615 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $7.13, for a total transaction of $25,774.95. Following the completion of the sale, the vice president now directly owns 68,084 shares of the company’s stock, valued at approximately $485,438.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,360 shares of company stock valued at $988,781 in the last three months. 33.70% of the stock is currently owned by corporate insiders.

About Arteris

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.