Essex Investment Management Co. LLC Decreases Holdings in Arteris, Inc. (NASDAQ:AIP)

Essex Investment Management Co. LLC lessened its stake in shares of Arteris, Inc. (NASDAQ:AIP) by 11.7% in the fourth quarter, according to its most recent Form 13F 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’s holdings in Arteris were worth $2,917,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. US Bancorp DE bought a new stake in Arteris during the 3rd quarter worth approximately $34,000. R Squared Ltd bought a new position in shares of Arteris during the 4th quarter valued at $64,000. MetLife Investment Management LLC grew its holdings in shares of Arteris by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 16,951 shares of the company’s stock valued at $131,000 after purchasing an additional 9,551 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Arteris during the 4th quarter valued at $134,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Arteris during the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Stock Up 0.1 %

NASDAQ:AIP opened at $7.89 on Friday. The firm 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 quick ratio of 1.17 and a current ratio of 1.17. Arteris, Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $12.64. The firm has a 50-day simple moving average of $10.29 and a two-hundred day simple moving average of $8.83.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.19) 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 during the quarter, compared to the consensus estimate of $15.34 million. Analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AIP. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Arteris in a research report on Tuesday, February 18th. Northland Securities lifted their price target on shares of Arteris from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th.

Insider Transactions at Arteris

In related news, CFO Nicholas B. Hawkins sold 5,968 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.57, for a total value of $51,145.76. Following the transaction, the chief financial officer now owns 186,123 shares of the company’s stock, valued at approximately $1,595,074.11. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO K Charles Janac sold 17,856 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $10.12, for a total transaction of $180,702.72. Following the completion of the transaction, the chief executive officer now directly owns 10,287,435 shares in the company, valued at approximately $104,108,842.20. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 350,561 shares of company stock worth $3,676,085 over the last three months. 33.70% of the stock is currently owned by company 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.