Arteris, Inc. $AIP is Needham Investment Management LLC's 4th Largest Position

Key Points

• Needham Investment Management increased its Arteris stake by 2.6% in the fourth quarter, bringing its holdings to 3.41 million shares. The position is now the firm’s 4th largest and represents about 3.3% of its portfolio.
• Wall Street sentiment on Arteris is mixed: recent analyst actions included higher price targets from Northland Securities and Rosenblatt, while Jefferies kept a Hold rating. Overall, the stock currently has a consensus Hold rating with an average target price of $37.75.
• Arteris reported better-than-expected quarterly results, posting a loss of $0.03 per share versus an expected loss of $0.08 and revenue of $22.94 million above estimates. Shares were also trading up 6.4%, near their 52-week high of $43.82.

Needham Investment Management LLC increased its position in Arteris, Inc. (NASDAQ:AIP - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,411,500 shares of the company's stock after acquiring an additional 86,500 shares during the quarter. Arteris comprises about 3.3% of Needham Investment Management LLC's holdings, making the stock its 4th biggest holding. Needham Investment Management LLC owned 7.50% of Arteris worth $52,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Roubaix Capital LLC bought a new position in shares of Arteris during the 3rd quarter valued at about $2,361,000. Huntleigh Advisors Inc. bought a new stake in Arteris in the fourth quarter valued at approximately $1,832,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Arteris in the fourth quarter worth approximately $1,914,000. Granahan Investment Management LLC raised its holdings in Arteris by 725.7% during the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after buying an additional 546,341 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in Arteris by 59.3% during the 3rd quarter. GSA Capital Partners LLP now owns 132,079 shares of the company's stock valued at $1,334,000 after buying an additional 49,153 shares during the period. Hedge funds and other institutional investors own 64.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AIP shares. Northland Securities set a $38.00 price objective on shares of Arteris in a research note on Wednesday, May 13th. Jefferies Financial Group lifted their price objective on Arteris from $16.00 to $35.00 and gave the stock a "hold" rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of Arteris from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Rosenblatt Securities raised their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Arteris currently has an average rating of "Hold" and a consensus target price of $37.75.

Insider Transactions at Arteris

In related news, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $19.04, for a total value of $1,332,800.00. Following the completion of the transaction, the insider owned 9,119,071 shares in the company, valued at approximately $173,627,111.84. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO K Charles Janac sold 70,000 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00. Following the sale, the chief executive officer owned 9,119,071 shares in the company, valued at approximately $173,627,111.84. This trade represents a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,072,799 shares of company stock worth $31,248,896. 33.70% of the stock is owned by corporate insiders.

Arteris Trading Up 6.4%

Shares of Arteris stock opened at $43.63 on Tuesday. Arteris, Inc. has a 1-year low of $8.01 and a 1-year high of $43.82. The company's fifty day simple moving average is $30.15 and its 200-day simple moving average is $20.96. The stock has a market capitalization of $2.01 billion, a PE ratio of -55.23 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73.

Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. As a group, equities analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current year.

Arteris Profile

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.

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