Granahan Investment Management LLC Acquires 476,181 Shares of Arteris, Inc. $AIP

Granahan Investment Management LLC raised its holdings in shares of Arteris, Inc. (NASDAQ:AIP) by 201.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 713,077 shares of the company’s stock after buying an additional 476,181 shares during the period. Granahan Investment Management LLC’s holdings in Arteris were worth $11,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Arteris by 54.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 36,993 shares of the company’s stock valued at $608,000 after acquiring an additional 13,080 shares during the last quarter. Bank of Nova Scotia grew its position in Arteris by 40.8% during the 1st quarter. Bank of Nova Scotia now owns 17,600 shares of the company’s stock worth $289,000 after acquiring an additional 5,100 shares during the last quarter. Sei Investments Co. increased its stake in Arteris by 43.1% in the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock worth $2,799,000 after purchasing an additional 51,279 shares during the period. Strs Ohio increased its stake in Arteris by 65.9% in the 1st quarter. Strs Ohio now owns 34,000 shares of the company’s stock worth $559,000 after purchasing an additional 13,500 shares during the period. Finally, Wesbanco Bank Inc. bought a new stake in Arteris in the first quarter valued at approximately $559,000. 64.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Arteris

In other Arteris news, CFO Nicholas B. Hawkins sold 5,377 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total value of $208,520.06. Following the sale, the chief financial officer owned 103,172 shares in the company, valued at approximately $4,001,010.16. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO K Charles Janac sold 10,679 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $35.90, for a total value of $383,376.10. Following the completion of the sale, the chief executive officer directly owned 175,148 shares in the company, valued at approximately $6,287,813.20. This represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,459,949 shares of company stock valued at $50,978,726 over the last three months. 23.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AIP shares. Jefferies Financial Group increased their price objective on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen upped their price target on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Oppenheimer initiated coverage on shares of Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Northland Securities set a $38.00 price target on shares of Arteris in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.20.

Arteris Stock Performance

Shares of Arteris stock opened at $30.26 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.40 billion, a P/E ratio of -38.30 and a beta of 1.92. The business has a fifty day simple moving average of $37.12 and a two-hundred day simple moving average of $25.29. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. On average, equities analysts forecast that Arteris, Inc. will post -0.6 earnings per share for the current fiscal year.

Arteris Company Profile

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.