Arteris (NASDAQ:AIP) Sets New 12-Month High - Here's What Happened

Shares of Arteris, Inc. (NASDAQ:AIP - Get Free Report) reached 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 changing hands. The stock had previously closed at $12.25.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price target on shares of Arteris in a report on Wednesday, November 6th.

Arteris Stock Up 0.2 %

The stock's 50-day moving average price is $9.00 and its two-hundred day moving average price is $8.08. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $493.37 million, a P/E ratio of -12.79 and a beta of 1.17.

Insiders Place Their Bets

In related news, COO Laurent R. Moll sold 22,865 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $11.04, for a total value of $252,429.60. Following the completion of the transaction, the chief operating officer now directly owns 468,727 shares of the company's stock, valued at approximately $5,174,746.08. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne C. Cantwell sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $11.01, for a total value of $55,050.00. Following the sale, the director now owns 233,198 shares in the company, valued at approximately $2,567,509.98. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 305,201 shares of company stock valued at $3,105,163 over the last ninety days. 33.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arteris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Needham Investment Management LLC boosted its position in shares of Arteris by 14.7% in the third quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company's stock valued at $21,114,000 after acquiring an additional 350,000 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of Arteris in the third quarter worth $2,504,000. Bank of New York Mellon Corp bought a new stake in Arteris during the second quarter valued at $580,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Arteris during the second quarter worth about $554,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Arteris by 36.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 253,211 shares of the company's stock valued at $1,955,000 after acquiring an additional 67,414 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors.

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.