Westerly Capital Management LLC Lowers Position in Arteris, Inc. (NASDAQ:AIP)

Westerly Capital Management LLC trimmed its stake in Arteris, Inc. (NASDAQ:AIP - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the company's stock after selling 75,000 shares during the period. Arteris accounts for about 1.2% of Westerly Capital Management LLC's investment portfolio, making the stock its 28th biggest holding. Westerly Capital Management LLC owned about 0.62% of Arteris worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in AIP. State Street Corp boosted its holdings in shares of Arteris by 18.5% during the 3rd quarter. State Street Corp now owns 410,578 shares of the company's stock valued at $3,170,000 after acquiring an additional 64,081 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Arteris by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company's stock worth $712,000 after buying an additional 37,032 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Arteris by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company's stock worth $4,610,000 after purchasing an additional 36,908 shares in the last quarter. Barclays PLC grew its stake in Arteris by 321.1% during the third quarter. Barclays PLC now owns 39,396 shares of the company's stock valued at $304,000 after acquiring an additional 30,041 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Arteris by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company's stock valued at $802,000 after buying an additional 3,298 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors.

Arteris Trading Up 2.2 %

Shares of Arteris stock traded up $0.15 on Monday, hitting $6.87. 21,455 shares of the company traded hands, compared to its average volume of 198,241. 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 company has a market cap of $284.64 million, a PE ratio of -7.88 and a beta of 1.31. The stock's 50 day moving average price is $7.07 and its 200-day moving average price is $8.62. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $12.64.

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

Insider Activity

In other Arteris news, CFO Nicholas B. Hawkins sold 5,968 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.57, for a total transaction of $51,145.76. Following the completion of the transaction, the chief financial officer now directly owns 186,123 shares of the company's stock, valued at approximately $1,595,074.11. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Laurent R. Moll sold 4,703 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total transaction of $33,485.36. Following the completion of the sale, the chief operating officer now directly owns 482,833 shares in the company, valued at $3,437,770.96. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,927 shares of company stock worth $288,699. Corporate insiders own 33.70% of the company's stock.

Wall Street Analyst Weigh In

AIP has been the subject of a number of analyst reports. Northland Securities raised their price target on 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 set a $15.00 price target on shares of Arteris in a research note on Tuesday, February 18th.

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.