Needham Investment Management LLC Has $52.88 Million Position in Arteris, Inc. $AIP

Needham Investment Management LLC grew its stake in shares of Arteris, Inc. (NASDAQ:AIP) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,411,500 shares of the company’s stock after acquiring an additional 86,500 shares during the quarter. Arteris comprises approximately 3.3% of Needham Investment Management LLC’s investment portfolio, making the stock its 4th largest holding. Needham Investment Management LLC owned about 0.08% of Arteris worth $52,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Squarepoint Ops LLC increased its holdings in shares of Arteris by 180.7% in the fourth quarter. Squarepoint Ops LLC now owns 153,492 shares of the company’s stock valued at $2,379,000 after purchasing an additional 98,806 shares during the period. Mariner LLC raised its position in Arteris by 39.2% during the 4th quarter. Mariner LLC now owns 53,629 shares of the company’s stock worth $832,000 after buying an additional 15,105 shares during the last quarter. Barclays PLC lifted its stake in Arteris by 17.7% during the 4th quarter. Barclays PLC now owns 47,299 shares of the company’s stock valued at $733,000 after acquiring an additional 7,115 shares during the period. Marshall Wace LLP boosted its holdings in shares of Arteris by 25.4% in the 4th quarter. Marshall Wace LLP now owns 209,782 shares of the company’s stock valued at $3,252,000 after acquiring an additional 42,492 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in Arteris by 141.1% during the 4th quarter. Bridgewater Associates LP now owns 104,081 shares of the company’s stock worth $1,613,000 after purchasing an additional 60,912 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Jefferies Financial Group boosted their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Finally, TD Cowen upped their target price on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.75.

Insider Activity at Arteris

In other news, major shareholder Bayview Legacy, Llc sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00. Following the completion of the sale, the insider owned 8,929,071 shares in the company, valued at approximately $311,713,868.61. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO K Charles Janac sold 70,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00. Following the completion of the transaction, the chief executive officer directly owned 8,929,071 shares in the company, valued at $311,713,868.61. This trade represents a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,072,799 shares of company stock valued at $31,248,896 in the last quarter. Company insiders own 33.70% of the company’s stock.

Arteris Price Performance

AIP stock opened at $43.63 on Tuesday. The company has a market capitalization of $2.01 billion, a PE ratio of -55.23 and a beta of 1.98. Arteris, Inc. has a 12-month low of $8.01 and a 12-month high of $43.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average price is $30.15 and its 200 day moving average price is $20.96.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. On average, sell-side analysts anticipate that Arteris, Inc. will post -0.54 EPS for the current year.

About Arteris

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.