Essex Investment Management Co. LLC Sells 38,050 Shares of Arteris, Inc. (NASDAQ:AIP)

Essex Investment Management Co. LLC decreased its stake in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 286,241 shares of the company's stock after selling 38,050 shares during the period. Essex Investment Management Co. LLC owned 0.71% of Arteris worth $2,917,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE bought a new stake in shares of Arteris during the 3rd quarter worth $34,000. Dynamic Technology Lab Private Ltd acquired a new position in Arteris during the 3rd quarter worth $226,000. MetLife Investment Management LLC lifted its position in Arteris by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 16,951 shares of the company's stock worth $131,000 after acquiring an additional 9,551 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Arteris by 36.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 253,211 shares of the company's stock valued at $1,955,000 after purchasing an additional 67,414 shares during the last quarter. Finally, Needham Investment Management LLC grew its position in shares of Arteris by 14.7% in the third quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company's stock valued at $21,114,000 after purchasing an additional 350,000 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIP. Rosenblatt Securities restated a "buy" rating and set a $15.00 target price on shares of Arteris in a research note on Tuesday, February 18th. Northland Securities upped their price target on Arteris from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th.

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Insiders Place Their Bets

In other Arteris news, CEO K Charles Janac sold 14,180 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $10.01, for a total value of $141,941.80. Following the sale, the chief executive officer now directly owns 10,207,746 shares in the company, valued at $102,179,537.46. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Paul L. Alpern sold 3,326 shares of Arteris stock in a transaction on Monday, January 6th. The shares were sold at an average price of $12.35, for a total value of $41,076.10. Following the transaction, the vice president now directly owns 61,604 shares of the company's stock, valued at approximately $760,809.40. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 330,305 shares of company stock worth $3,471,358 over the last quarter. Company insiders own 33.70% of the company's stock.

Arteris Stock Performance

Shares of NASDAQ AIP traded down $0.20 during mid-day trading on Thursday, hitting $7.46. The company had a trading volume of 120,990 shares, compared to its average volume of 193,194. Arteris, Inc. has a 12 month low of $5.76 and a 12 month high of $12.64. The firm has a market cap of $305.47 million, a P/E ratio of -8.57 and a beta of 1.21. The business's 50-day simple moving average is $10.13 and its 200-day simple moving average is $8.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.17.

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

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.