Arteris, Inc. (NASDAQ:AIP) Stake Decreased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its stake in shares of Arteris, Inc. (NASDAQ:AIP) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,241 shares of the company’s stock after selling 38,050 shares during the quarter. Essex Investment Management Co. LLC owned about 0.71% of Arteris worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Arteris by 18.5% during the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock valued at $3,170,000 after buying an additional 64,081 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Arteris by 67.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company’s stock worth $712,000 after purchasing an additional 37,032 shares during the period. Geode Capital Management LLC increased its holdings in shares of Arteris by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock worth $4,610,000 after purchasing an additional 36,908 shares during the period. Barclays PLC increased its holdings in shares of Arteris by 321.1% during the 3rd quarter. Barclays PLC now owns 39,396 shares of the company’s stock worth $304,000 after purchasing an additional 30,041 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Arteris in the third quarter valued at about $226,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AIP. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Arteris in a research report on Tuesday, February 18th. Northland Securities upped their target price on shares of Arteris from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th.

Arteris Stock Performance

Shares of AIP stock opened at $7.89 on Friday. The stock has a market cap of $323.08 million, a P/E ratio of -9.07 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.17. The company has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $8.83. Arteris, Inc. has a one year low of $5.76 and a one year high of $12.64.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. The company had revenue of $15.49 million for the quarter, compared to analyst estimates of $15.34 million. As a group, equities analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling

In related news, VP Paul L. Alpern sold 2,471 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $11.41, for a total transaction of $28,194.11. Following the transaction, the vice president now directly owns 64,930 shares of the company’s stock, valued at $740,851.30. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas B. Hawkins sold 5,968 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.57, for a total transaction of $51,145.76. Following the transaction, the chief financial officer now directly owns 186,123 shares in the company, valued at approximately $1,595,074.11. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 350,561 shares of company stock worth $3,676,085 in the last three months. 33.70% of the stock is owned by corporate insiders.

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.