Public Employees Retirement System of Ohio Takes $2.04 Million Position in Arteris, Inc. $AIP

Public Employees Retirement System of Ohio bought a new position in shares of Arteris, Inc. (NASDAQ:AIP) during the 2nd quarter, Holdings Channel.com reports. The firm bought 41,981 shares of the company’s stock, valued at approximately $2,040,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in Arteris in the 1st quarter valued at about $1,621,000. Strs Ohio purchased a new position in shares of Arteris during the 1st quarter worth about $104,000. Geode Capital Management LLC lifted its holdings in shares of Arteris by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after acquiring an additional 30,018 shares during the period. Rhumbline Advisers boosted its position in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock worth $519,000 after acquiring an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Arteris by 8.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after purchasing an additional 25,448 shares during the period. 64.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIP has been the subject of several research analyst reports. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Oppenheimer initiated coverage on Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective for the company. Roth Capital initiated coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 target price on shares of Arteris in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arteris currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Arteris Price Performance

AIP opened at $21.37 on Monday. The firm has a 50 day moving average price of $29.78 and a 200 day moving average price of $27.50. The company has a market cap of $1.05 billion, a PE ratio of -24.56 and a beta of 1.91. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

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

Insider Buying and Selling

In related news, CEO K Janac sold 100,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00. Following the completion of the sale, the chief executive officer directly owned 8,229,071 shares in the company, valued at approximately $170,753,223.25. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul L. Alpern sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total value of $83,080.00. Following the completion of the transaction, the vice president directly owned 70,733 shares in the company, valued at $1,469,124.41. This trade represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,207,704 shares of company stock valued at $39,166,487. 23.30% of the stock is owned by corporate insiders.

About Arteris

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.