Granahan Investment Management LLC Boosts Stock Holdings in Arteris, Inc. $AIP

Key Points

• Granahan Investment Management boosted its Arteris stake by 201% in the first quarter, ending with 713,077 shares worth about $11.7 million and representing roughly 1.54% of the company.
• Insider selling has been significant, including CEO K Charles Janac’s sale of 192,686 shares and Director Saiyed Atiq Raza’s sale of 90,000 shares; insiders have sold 1.46 million shares over the last 90 days.
• Analysts are mixed but generally constructive on Arteris, with three Buy ratings, one Hold, and one Sell, resulting in a consensus Hold and an average price target of $38.20.

Granahan Investment Management LLC grew its holdings in Arteris, Inc. (NASDAQ:AIP - Free Report) by 201.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 713,077 shares of the company's stock after purchasing an additional 476,181 shares during the period. Granahan Investment Management LLC owned approximately 1.54% of Arteris worth $11,723,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Arteris in the 2nd quarter worth approximately $32,000. BNP Paribas Financial Markets raised its holdings in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock valued at $61,000 after acquiring an additional 2,595 shares during the period. New York State Common Retirement Fund lifted its position in shares of Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company's stock worth $147,000 after acquiring an additional 7,400 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Arteris during the fourth quarter worth $162,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Arteris in the third quarter worth $113,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arteris

In related news, CEO K Charles Janac sold 192,686 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the chief executive officer directly owned 8,555,047 shares of the company's stock, valued at approximately $310,719,307.04. This trade represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Saiyed Atiq Raza sold 90,000 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00. Following the completion of the sale, the director owned 210,000 shares of the company's stock, valued at $6,029,100. The trade was a 30.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,459,949 shares of company stock valued at $50,978,726 over the last 90 days. Company insiders own 23.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AIP shares. Oppenheimer initiated coverage on Arteris in a research note on Thursday, July 16th. They set an "outperform" rating and a $40.00 price objective on the stock. Rosenblatt Securities raised their target price on Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Wall Street Zen lowered Arteris from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. TD Cowen upped their price target on Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings cut Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Arteris presently has a consensus rating of "Hold" and a consensus price target of $38.20.

Arteris Stock Down 9.2%

AIP opened at $30.26 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of -38.30 and a beta of 1.92. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The business's fifty day simple moving average is $37.12 and its 200 day simple moving average is $25.29.

Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analysts' expectations of $21.03 million. As a group, research analysts expect that Arteris, Inc. will post -0.6 earnings per share for the current fiscal 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.

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