Essex Investment Management Co. LLC Makes New Investment in Arteris, Inc. (NASDAQ:AIP)

Essex Investment Management Co. LLC purchased a new stake in shares of Arteris, Inc. (NASDAQ:AIP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 324,291 shares of the company’s stock, valued at approximately $2,504,000. Essex Investment Management Co. LLC owned 0.84% of Arteris as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Arteris by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after acquiring an additional 3,242 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Arteris by 25.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company’s stock valued at $5,211,000 after buying an additional 143,385 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Arteris by 28.1% during the 1st quarter. Acadian Asset Management LLC now owns 534,472 shares of the company’s stock valued at $3,911,000 after buying an additional 117,312 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Arteris by 26.9% in the 1st quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock worth $973,000 after buying an additional 28,165 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Arteris by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock worth $861,000 after buying an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Westpark Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Arteris in a research report on Wednesday, July 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Arteris in a report on Monday, August 5th.

Arteris Trading Up 3.1 %

Arteris stock traded up $0.23 during mid-day trading on Friday, hitting $7.58. The company’s stock had a trading volume of 39,532 shares, compared to its average volume of 170,151. Arteris, Inc. has a one year low of $4.20 and a one year high of $9.54. The stock has a market cap of $291.67 million, a PE ratio of -7.36 and a beta of 1.11. The company has a 50 day moving average of $7.46 and a 200-day moving average of $7.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $14.58 million during the quarter, compared to the consensus estimate of $13.68 million. Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. During the same quarter in the prior year, the company earned ($0.25) earnings per share. On average, research analysts anticipate that Arteris, Inc. will post -0.9 EPS for the current year.

Insider Transactions at Arteris

In other Arteris news, CEO K Charles Janac sold 5,520 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $7.18, for a total transaction of $39,633.60. Following the sale, the chief executive officer now owns 287,247 shares of the company’s stock, valued at approximately $2,062,433.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arteris news, VP Paul L. Alpern sold 3,615 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $7.13, for a total value of $25,774.95. Following the completion of the sale, the vice president now directly owns 68,084 shares in the company, valued at $485,438.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO K Charles Janac sold 5,520 shares of Arteris stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $7.18, for a total transaction of $39,633.60. Following the completion of the transaction, the chief executive officer now directly owns 287,247 shares in the company, valued at $2,062,433.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,360 shares of company stock valued at $988,781. Company insiders own 33.70% of the company’s stock.

About Arteris

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.