Deutsche Bank AG Takes $1.77 Million Position in Arteris, Inc. $AIP

Deutsche Bank AG purchased a new position in shares of Arteris, Inc. (NASDAQ:AIP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,374 shares of the company’s stock, valued at approximately $1,767,000.

A number of other institutional investors have also recently added to or reduced their stakes in AIP. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Arteris in the second quarter worth $53,000. Versant Capital Management Inc increased its stake in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares during the period. Raymond James Financial Inc. bought a new position in shares of Arteris during the second quarter worth about $32,000. State of Wyoming bought a new position in shares of Arteris during the second quarter worth about $165,000. Finally, Royal Bank of Canada raised its position in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares during the last quarter. 64.36% of the stock is owned by institutional investors.

Insider Activity at Arteris

In other Arteris news, major shareholder Bayview Legacy, Llc sold 192,686 shares of Arteris stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the transaction, the insider owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO K Charles Janac sold 192,686 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total value of $6,998,355.52. Following the sale, the chief executive officer owned 8,555,047 shares of the company’s stock, valued at $310,719,307.04. This trade represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 1,247,045 shares of company stock valued at $43,571,699. 23.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AIP shares. Roth Capital initiated coverage on shares of Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. TD Cowen raised their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Arteris Price Performance

Shares of AIP opened at $22.01 on Friday. The business’s fifty day moving average is $31.94 and its 200 day moving average is $27.19. Arteris, Inc. has a 12-month low of $8.42 and a 12-month high of $50.26. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.08 billion, a P/E ratio of -25.30 and a beta of 1.96.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The business had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Sell-side analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Arteris Company 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.