Apis Capital Advisors LLC Acquires Shares of 60,000 Arteris, Inc. $AIP

Apis Capital Advisors LLC acquired a new position in Arteris, Inc. (NASDAQ:AIP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 60,000 shares of the company’s stock, valued at approximately $606,000. Apis Capital Advisors LLC owned approximately 0.14% of Arteris as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in AIP. AQR Capital Management LLC bought a new stake in shares of Arteris during the first quarter worth $1,621,000. Strs Ohio bought a new position in shares of Arteris in the first quarter valued at about $104,000. Savant Capital LLC acquired a new position in Arteris during the 2nd quarter worth about $97,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Arteris during the 2nd quarter worth about $151,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Arteris during the 2nd quarter worth about $254,000. Institutional investors own 64.36% of the company’s stock.

Insider Transactions at Arteris

In related news, CEO K Charles Janac sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $14.66, for a total transaction of $131,940.00. Following the completion of the sale, the chief executive officer directly owned 9,229,071 shares of the company’s stock, valued at $135,298,180.86. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Saiyed Atiq Raza sold 3,690 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $62,803.80. Following the completion of the transaction, the director owned 390,000 shares in the company, valued at $6,637,800. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 596,196 shares of company stock worth $9,657,120 in the last quarter. 29.10% of the stock is owned by company insiders.

Arteris Stock Down 0.3%

Arteris stock opened at $14.63 on Friday. The business’s 50-day simple moving average is $15.80 and its 200 day simple moving average is $14.08. The stock has a market cap of $665.23 million, a price-to-earnings ratio of -17.84 and a beta of 1.45. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. As a group, sell-side analysts expect that Arteris, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AIP. Northland Securities set a $24.00 price objective on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.17.

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.