Granahan Investment Management LLC Cuts Holdings in Arteris, Inc. (NASDAQ:AIP)

Granahan Investment Management LLC reduced its holdings in shares of Arteris, Inc. (NASDAQ:AIP - Free Report) by 81.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,093 shares of the company's stock after selling 403,823 shares during the period. Granahan Investment Management LLC owned approximately 0.23% of Arteris worth $949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in Arteris during the fourth quarter worth approximately $46,000. US Bancorp DE lifted its position in shares of Arteris by 29.0% in the fourth quarter. US Bancorp DE now owns 5,702 shares of the company's stock valued at $58,000 after acquiring an additional 1,283 shares in the last quarter. R Squared Ltd purchased a new position in shares of Arteris in the fourth quarter valued at approximately $64,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Arteris during the fourth quarter worth $110,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Arteris in the fourth quarter valued at about $117,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Trading Down 10.1%

AIP stock traded down $0.84 during midday trading on Wednesday, hitting $7.51. 513,991 shares of the company's stock were exchanged, compared to its average volume of 200,776. The business has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $8.61. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $311.39 million, a PE ratio of -8.63 and a beta of 1.31. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $12.64.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.08). Arteris had a negative net margin of 58.27% and a negative return on equity of 828.71%. The firm had revenue of $15.49 million during the quarter, compared to analyst estimates of $15.34 million. On average, sell-side analysts predict that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AIP shares. Northland Securities increased their target price on shares of Arteris from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price objective on shares of Arteris in a research report on Tuesday, February 18th.

Insiders Place Their Bets

In other news, CEO K Charles Janac sold 7,150 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $7.12, for a total transaction of $50,908.00. Following the completion of the transaction, the chief executive officer now directly owns 318,117 shares of the company's stock, valued at approximately $2,264,993.04. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Nicholas B. Hawkins sold 3,888 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total value of $27,682.56. Following the completion of the sale, the chief financial officer now directly owns 181,545 shares of the company's stock, valued at approximately $1,292,600.40. This trade represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,927 shares of company stock worth $371,639 in the last quarter. 29.10% of the stock is owned by company insiders.

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.