Federated Hermes Inc. Buys 161,241 Shares of Arteris, Inc. (NASDAQ:AIP)

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. grew its stake in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) by 97.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 327,119 shares of the company's stock after buying an additional 161,241 shares during the period. Federated Hermes Inc. owned 0.79% of Arteris worth $2,260,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AIP. Quarry LP purchased a new stake in Arteris in the 4th quarter valued at about $46,000. GAMMA Investing LLC grew its position in Arteris by 11,823.3% during the first quarter. GAMMA Investing LLC now owns 5,127 shares of the company's stock valued at $350,000 after acquiring an additional 5,084 shares during the period. CWM LLC grew its holdings in shares of Arteris by 4,810.1% during the 1st quarter. CWM LLC now owns 10,213 shares of the company's stock worth $71,000 after purchasing an additional 10,005 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Arteris in the fourth quarter worth $110,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Arteris during the fourth quarter worth about $117,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Bayview Legacy, Llc sold 50,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $13.12, for a total value of $656,000.00. Following the transaction, the insider directly owned 9,839,071 shares of the company's stock, valued at approximately $129,088,611.52. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO K Charles Janac sold 94,245 shares of Arteris stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $13.49, for a total value of $1,271,365.05. Following the sale, the chief executive officer directly owned 189,785 shares of the company's stock, valued at approximately $2,560,199.65. The trade was a 33.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 456,043 shares of company stock valued at $5,484,028 in the last three months. 29.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Arteris Price Performance

NASDAQ AIP traded down $0.01 on Friday, hitting $9.30. 1,465,274 shares of the company were exchanged, compared to its average volume of 541,799. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $14.29. The firm has a market capitalization of $390.40 million, a P/E ratio of -11.34 and a beta of 1.45. The company's 50 day moving average price is $9.12 and its 200-day moving average price is $8.39.

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.