Needham Investment Management LLC Acquires 350,000 Shares of Arteris, Inc. (NASDAQ:AIP)

Needham Investment Management LLC lifted its stake in Arteris, Inc. (NASDAQ:AIP) by 14.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,735,000 shares of the company’s stock after purchasing an additional 350,000 shares during the period. Arteris accounts for 1.6% of Needham Investment Management LLC’s portfolio, making the stock its 16th largest position. Needham Investment Management LLC owned 0.07% of Arteris worth $21,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of AIP. US Bancorp DE acquired a new position in Arteris during the 3rd quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Arteris during the second quarter worth approximately $86,000. Algert Global LLC acquired a new position in Arteris in the second quarter valued at approximately $115,000. MetLife Investment Management LLC grew its holdings 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 period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Arteris during the 3rd quarter valued at $226,000. Institutional investors own 64.36% of the company’s stock.

Insider Activity

In related news, COO Laurent R. Moll sold 37,561 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $7.49, for a total value of $281,331.89. Following the sale, the chief operating officer now owns 544,468 shares in the company, valued at approximately $4,078,065.32. This represents a 6.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne C. Cantwell sold 15,000 shares of Arteris stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.95, for a total transaction of $104,250.00. Following the transaction, the director now directly owns 243,198 shares of the company’s stock, valued at approximately $1,690,226.10. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,751 shares of company stock valued at $951,813. 33.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Arteris in a research report on Wednesday, November 6th.

Arteris Stock Down 1.0 %

AIP traded down $0.09 during trading hours on Tuesday, hitting $8.52. 29,922 shares of the company’s stock were exchanged, compared to its average volume of 160,785. The stock’s 50-day moving average is $7.65 and its two-hundred day moving average is $7.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. Arteris, Inc. has a 1-year low of $4.83 and a 1-year high of $9.54.

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.