Millennium Management LLC Grows Position in Arteris, Inc. (NASDAQ:AIP)

Millennium Management LLC lifted its stake in Arteris, Inc. (NASDAQ:AIP - Free Report) by 56.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,309 shares of the company's stock after purchasing an additional 85,996 shares during the period. Millennium Management LLC owned 0.59% of Arteris worth $2,428,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. G2 Investment Partners Management LLC bought a new stake in Arteris during the fourth quarter valued at about $2,799,000. D. E. Shaw & Co. Inc. bought a new position in shares of Arteris during the 4th quarter valued at approximately $110,000. Deutsche Bank AG grew its stake in shares of Arteris by 65.7% during the 4th quarter. Deutsche Bank AG now owns 24,145 shares of the company's stock valued at $246,000 after acquiring an additional 9,573 shares during the period. Corton Capital Inc. increased its holdings in Arteris by 45.4% in the 4th quarter. Corton Capital Inc. now owns 23,778 shares of the company's stock worth $242,000 after acquiring an additional 7,430 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Arteris during the 4th quarter worth approximately $306,000. 64.36% of the stock is owned by institutional investors.

Arteris Price Performance

NASDAQ AIP traded up $0.29 on Tuesday, reaching $7.94. The company had a trading volume of 192,748 shares, compared to its average volume of 203,757. The stock has a market capitalization of $333.31 million, a PE ratio of -9.13 and a beta of 1.31. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $12.64. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $6.82 and its 200 day moving average price is $8.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AIP. Northland Securities upped their price target on shares of Arteris from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $14.00 target price on shares of Arteris in a report on Wednesday, May 21st.

Insider Buying and Selling

In related news, CFO Nicholas B. Hawkins sold 11,000 shares of Arteris stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $7.54, for a total value of $82,940.00. Following the completion of the transaction, the chief financial officer now owns 165,596 shares in the company, valued at approximately $1,248,593.84. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Laurent R. Moll sold 4,703 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $7.12, for a total value of $33,485.36. Following the sale, the chief operating officer now directly owns 482,833 shares in the company, valued at $3,437,770.96. The trade was a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,699 shares of company stock worth $301,555. Corporate insiders own 29.10% of the company's stock.

Arteris Company 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.