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

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

Analysts Set New Price Targets

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

Arteris Trading Down 0.2 %

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

Insider Buying and Selling at Arteris

In other news, CFO Nicholas B. Hawkins sold 19,299 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $8.14, for a total value of $157,093.86. Following the completion of the sale, the chief financial officer now directly owns 192,414 shares of the company’s stock, valued at $1,566,249.96. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO K Charles Janac sold 60,584 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $10.42, for a total transaction of $631,285.28. Following the completion of the sale, the chief executive officer now directly owns 10,134,541 shares of the company’s stock, valued at approximately $105,601,917.22. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,222 shares of company stock valued at $2,537,693. Insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

A number of hedge funds and other institutional investors have recently modified their holdings of AIP. US Bancorp DE purchased a new stake in shares of Arteris in the third quarter worth $34,000. The Manufacturers Life Insurance Company purchased a new position in Arteris during the second quarter valued at $86,000. Algert Global LLC purchased a new position in Arteris during the second quarter valued at $115,000. MetLife Investment Management LLC grew its stake in Arteris by 129.1% during the third quarter. MetLife Investment Management LLC now owns 16,951 shares of the company’s stock valued at $131,000 after acquiring an additional 9,551 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Arteris during the third quarter valued at $226,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.