CloudAlpha Capital Management Limited Hong Kong Makes New Investment in Arteris, Inc. (NASDAQ:AIP)

CloudAlpha Capital Management Limited Hong Kong bought a new stake in Arteris, Inc. (NASDAQ:AIP) in the second quarter, Holdings Channel reports. The institutional investor bought 73,710 shares of the company’s stock, valued at approximately $554,000. Arteris makes up about 0.0% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 20th biggest holding.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in Arteris in the 4th quarter valued at $60,000. Rhumbline Advisers boosted its holdings in shares of Arteris by 2,182.8% in the second quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock valued at $239,000 after acquiring an additional 30,428 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Arteris during the second quarter worth $580,000. Renaissance Technologies LLC lifted its holdings in Arteris by 6.1% in the second quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock valued at $861,000 after acquiring an additional 6,600 shares during the period. Finally, GSA Capital Partners LLP boosted its position in shares of Arteris by 26.9% during the 1st quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock worth $973,000 after purchasing an additional 28,165 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Price Performance

Arteris stock opened at $7.26 on Wednesday. The firm’s 50-day moving average is $7.82 and its two-hundred day moving average is $7.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $279.36 million, a P/E ratio of -7.05 and a beta of 1.12. Arteris, Inc. has a 12-month low of $4.20 and a 12-month high of $9.54.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. The company had revenue of $14.58 million for the quarter, compared to analyst estimates of $13.68 million. During the same period last year, the company posted ($0.25) EPS. Equities analysts predict that Arteris, Inc. will post -0.9 earnings per share for the current year.

Insider Activity at Arteris

In other Arteris news, Director Wayne C. Cantwell sold 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.95, for a total transaction of $104,250.00. Following the completion of the sale, the director now directly owns 243,198 shares in the company, valued at $1,690,226.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arteris news, Director Wayne C. Cantwell sold 15,000 shares of Arteris stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.95, for a total transaction of $104,250.00. Following the transaction, the director now directly owns 243,198 shares of the company’s stock, valued at $1,690,226.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul L. Alpern sold 11,250 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $7.24, for a total transaction of $81,450.00. Following the completion of the sale, the vice president now directly owns 80,360 shares of the company’s stock, valued at approximately $581,806.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,753 shares of company stock worth $1,049,619. 33.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Westpark Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Arteris in a research note on Wednesday, July 31st. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Arteris in a report on Monday, August 5th.

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.