Arteris, Inc. (NASDAQ:AIP) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Arteris, Inc. by 97.2%, owning 327,119 shares valued at approximately $2.26 million following the acquisition.
• Shares of Arteris, Inc. experienced significant trading activity, dropping to $9.89 on a volume of nearly 4.9 million shares, far exceeding the average volume.
• Brokerage firm TD Cowen raised its price target for Arteris from $12.00 to $15.00 and maintained a "buy" rating based on positive market assessments.

Federated Hermes Inc. boosted its position in Arteris, Inc. (NASDAQ:AIP - Free Report) by 97.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 327,119 shares of the company's stock after buying an additional 161,241 shares during the period. Federated Hermes Inc. owned approximately 0.79% of Arteris worth $2,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIP. Needham Investment Management LLC lifted its holdings in shares of Arteris by 0.4% in the 4th quarter. Needham Investment Management LLC now owns 2,745,000 shares of the company's stock valued at $27,972,000 after buying an additional 10,000 shares during the period. G2 Investment Partners Management LLC purchased a new position in Arteris during the fourth quarter valued at approximately $2,799,000. Millennium Management LLC raised its position in Arteris by 56.5% during the fourth quarter. Millennium Management LLC now owns 238,309 shares of the company's stock valued at $2,428,000 after acquiring an additional 85,996 shares in the last quarter. Northern Trust Corp lifted its holdings in Arteris by 6.6% in the fourth quarter. Northern Trust Corp now owns 224,443 shares of the company's stock valued at $2,287,000 after acquiring an additional 13,838 shares during the period. Finally, Trexquant Investment LP boosted its position in Arteris by 24.1% in the 4th quarter. Trexquant Investment LP now owns 200,947 shares of the company's stock worth $2,048,000 after purchasing an additional 39,086 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company's stock.

Insider Buying and Selling at Arteris

In other Arteris news, COO Laurent R. Moll sold 34,400 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $13.57, for a total transaction of $466,808.00. Following the transaction, the chief operating officer directly owned 442,071 shares of the company's stock, valued at $5,998,903.47. This trade represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nicholas B. Hawkins sold 11,276 shares of Arteris stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $13.15, for a total transaction of $148,279.40. Following the completion of the sale, the chief financial officer owned 107,996 shares in the company, valued at approximately $1,420,147.40. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 456,043 shares of company stock worth $5,484,028. 29.10% of the stock is currently owned by corporate insiders.

Arteris Price Performance

AIP stock traded down $0.01 during mid-day trading on Friday, reaching $9.30. 1,466,012 shares of the company's stock were exchanged, compared to its average volume of 1,973,342. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $14.29. The stock's 50 day moving average is $9.15 and its 200 day moving average is $8.37. The company has a market cap of $396.65 million, a price-to-earnings ratio of -11.34 and a beta of 1.45.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AIP. Rosenblatt Securities reaffirmed a "buy" rating and set a $14.00 target price on shares of Arteris in a report on Wednesday, May 21st. TD Cowen lifted their price objective on shares of Arteris from $12.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday.

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.