Squarepoint Ops LLC Raises Stake in Arteris, Inc. $AIP

Squarepoint Ops LLC increased its stake in Arteris, Inc. (NASDAQ:AIP) by 143.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,957 shares of the company’s stock after purchasing an additional 71,340 shares during the quarter. Squarepoint Ops LLC owned 0.28% of Arteris worth $1,153,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new stake in shares of Arteris during the 2nd quarter valued at approximately $32,000. Savant Capital LLC purchased a new position in Arteris in the 2nd quarter valued at approximately $97,000. Kapitalo Investimentos Ltda acquired a new position in Arteris during the second quarter worth $104,000. Strs Ohio purchased a new stake in Arteris during the first quarter worth $104,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Arteris during the second quarter worth $151,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Price Performance

Shares of NASDAQ AIP opened at $15.74 on Friday. The company has a 50-day simple moving average of $14.63 and a 200-day simple moving average of $11.34. The company has a market cap of $687.52 million, a PE ratio of -18.96 and a beta of 1.49. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. The firm had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. On average, analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other Arteris news, CEO K Charles Janac sold 70,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00. Following the transaction, the chief executive officer owned 9,469,071 shares of the company’s stock, valued at $167,697,247.41. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul L. Alpern sold 7,500 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $16.09, for a total transaction of $120,675.00. Following the sale, the vice president directly owned 65,277 shares of the company’s stock, valued at $1,050,306.93. This represents a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 820,825 shares of company stock valued at $12,276,775 in the last quarter. Corporate insiders own 29.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIP. TD Cowen lifted their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a research note on Monday, December 15th. Four 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Arteris 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.