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

Granahan Investment Management LLC grew its holdings in Arteris, Inc. (NASDAQ:AIP) by 725.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 621,625 shares of the company’s stock after buying an additional 546,341 shares during the period. Granahan Investment Management LLC’s holdings in Arteris were worth $6,278,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Worth Venture Partners LLC acquired a new stake in shares of Arteris during the 2nd quarter worth about $451,000. Franklin Resources Inc. lifted its position in Arteris by 9.6% in the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after buying an additional 142,936 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Arteris in the second quarter valued at about $254,000. Squarepoint Ops LLC boosted its stake in Arteris by 143.8% during the second quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock worth $1,153,000 after buying an additional 71,340 shares during the period. Finally, Herald Investment Management Ltd increased its position in shares of Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock valued at $4,036,000 after acquiring an additional 100,000 shares during the last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO K Charles Janac sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $14.66, for a total transaction of $131,940.00. Following the sale, the chief executive officer directly owned 9,229,071 shares of the company’s stock, valued at $135,298,180.86. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Saiyed Atiq Raza sold 3,690 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $17.02, for a total transaction of $62,803.80. Following the sale, the director owned 390,000 shares in the company, valued at approximately $6,637,800. This trade represents a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 596,196 shares of company stock valued at $9,657,120 in the last ninety days. Company insiders own 33.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Finally, Northland Securities set a $24.00 target price on Arteris in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.17.

Arteris Price Performance

Shares of Arteris stock opened at $14.63 on Monday. The stock has a market capitalization of $665.23 million, a price-to-earnings ratio of -17.84 and a beta of 1.45. The business has a 50-day moving average of $15.80 and a 200 day moving average of $14.11. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. Equities research analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current 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.