Proficio Capital Partners LLC Makes New Investment in Arteris, Inc. (NASDAQ:AIP)

Proficio Capital Partners LLC acquired a new position in Arteris, Inc. (NASDAQ:AIP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,123 shares of the company's stock, valued at approximately $450,000. Proficio Capital Partners LLC owned about 0.11% of Arteris at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Needham Investment Management LLC increased its stake in Arteris by 14.7% during the third quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company's stock valued at $21,114,000 after acquiring an additional 350,000 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in 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 acquiring an additional 67,414 shares during the period. State Street Corp lifted its position in shares of Arteris by 18.5% during the 3rd quarter. State Street Corp now owns 410,578 shares of the company's stock worth $3,170,000 after buying an additional 64,081 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Arteris by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company's stock worth $712,000 after acquiring an additional 37,032 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Arteris by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company's stock valued at $4,610,000 after purchasing an additional 36,908 shares during the last quarter. 64.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Arteris Stock Down 6.0 %

NASDAQ AIP traded down $0.45 during trading hours on Friday, reaching $7.09. 132,524 shares of the company's stock were exchanged, compared to its average volume of 194,064. The company's 50-day moving average is $9.31 and its two-hundred day moving average is $8.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. Arteris, Inc. has a one year low of $5.76 and a one year high of $12.64. The company has a market capitalization of $290.32 million, a price-to-earnings ratio of -8.15 and a beta of 1.21.

Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share 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 firm had revenue of $15.49 million for the quarter, compared to analyst estimates of $15.34 million. On average, analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Insider Transactions at Arteris

In related news, VP Paul L. Alpern sold 2,471 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 approximately $740,851.30. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne C. Cantwell sold 5,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $11.01, for a total value of $55,050.00. Following the sale, the director now directly owns 233,198 shares of the company's stock, valued at $2,567,509.98. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,936 shares of company stock worth $2,145,897 in the last 90 days. Corporate insiders own 33.70% of the company's stock.

Arteris 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.