Arteris (NASDAQ:AIP) Sets New 1-Year High – What’s Next?

Arteris, Inc. (NASDAQ:AIP) shares reached a new 52-week high on Monday . The stock traded as high as $12.64 and last traded at $12.49, with a volume of 224290 shares trading hands. The stock had previously closed at $12.25.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Arteris in a research note on Wednesday, November 6th.

Arteris Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50-day simple moving average is $8.89 and its 200 day simple moving average is $8.05. The firm has a market cap of $491.36 million, a P/E ratio of -12.74 and a beta of 1.25.

Insider Buying and Selling at Arteris

In other news, Director Isabelle F. Geday sold 15,550 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total value of $140,416.50. Following the completion of the sale, the director now owns 121,213 shares in the company, valued at approximately $1,094,553.39. This trade represents a 11.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas B. Hawkins sold 19,299 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.14, for a total transaction of $157,093.86. Following the completion of the sale, the chief financial officer now owns 192,414 shares of the company’s stock, valued at $1,566,249.96. This trade represents a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,222 shares of company stock worth $2,537,693 over the last 90 days. 33.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Arteris

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Arteris by 67.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company’s stock valued at $712,000 after buying an additional 37,032 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Arteris by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock valued at $11,201,000 after buying an additional 12,375 shares in the last quarter. Barclays PLC lifted its holdings in Arteris by 321.1% during the 3rd quarter. Barclays PLC now owns 39,396 shares of the company’s stock valued at $304,000 after buying an additional 30,041 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Arteris by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock valued at $4,610,000 after buying an additional 36,908 shares in the last quarter. Finally, State Street Corp lifted its holdings in Arteris by 18.5% during the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock valued at $3,170,000 after buying an additional 64,081 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

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.