Arteris, Inc. $AIP Shares Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC grew its position in Arteris, Inc. (NASDAQ:AIP) by 725.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 621,625 shares of the company’s stock after acquiring an additional 546,341 shares during the quarter. Granahan Investment Management LLC owned about 1.42% of Arteris worth $6,278,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets boosted its stake in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of Arteris during the second quarter worth $97,000. Strs Ohio purchased a new stake in shares of Arteris during the first quarter worth $104,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Arteris in the second quarter valued at about $151,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Stock Down 0.3%

Shares of AIP opened at $14.63 on Monday. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $19.85. The stock has a fifty day simple moving average of $15.80 and a two-hundred day simple moving average of $14.11. The company has a market capitalization of $665.23 million, a PE ratio of -17.84 and a beta of 1.45.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. As a group, equities analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIP. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Two investment 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. Based on data from MarketBeat, Arteris has a consensus rating of “Hold” and a consensus price target of $20.17.

Insiders Place Their Bets

In other Arteris news, major shareholder Bayview Legacy, Llc sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $16.58, for a total value of $829,000.00. Following the transaction, the insider directly owned 9,419,071 shares in the company, valued at $156,168,197.18. The trade was a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO K Charles Janac sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00. Following the completion of the sale, the chief executive officer directly owned 9,419,071 shares of the company’s stock, valued at approximately $156,168,197.18. This trade represents a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 596,196 shares of company stock valued at $9,657,120 over the last ninety days. Company insiders own 33.70% of the company’s stock.

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.