Arteris (NASDAQ:AIP) Hits New 52-Week High – Here’s Why

Arteris, Inc. (NASDAQ:AIP) shares 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 changing hands. The stock had previously closed at $12.25.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Arteris in a report on Wednesday, November 6th.

Arteris Stock Performance

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 business’s fifty day moving average is $9.08 and its 200 day moving average is $8.11. The stock has a market cap of $451.99 million, a PE ratio of -11.72 and a beta of 1.17.

Insider Buying and Selling

In other news, CFO Nicholas B. Hawkins sold 19,299 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 192,414 shares of the company’s stock, valued at $1,566,249.96. The trade was a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO K Charles Janac sold 60,584 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 10,134,541 shares in the company, valued at approximately $105,601,917.22. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,201 shares of company stock worth $3,105,163 in the last three months. Corporate insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

A number of hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE purchased a new stake in shares of Arteris during the 3rd quarter worth about $34,000. The Manufacturers Life Insurance Company purchased a new stake in Arteris during the second quarter worth approximately $86,000. Algert Global LLC acquired a new stake in shares of Arteris in the second quarter worth $115,000. MetLife Investment Management LLC raised its stake in shares of Arteris by 129.1% in the 3rd 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 during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Arteris during the 3rd quarter valued at $226,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.