123,500 Shares in Arteris, Inc. $AIP Bought by Nano Cap New Millennium Growth Fund L P

Nano Cap New Millennium Growth Fund L P acquired a new position in Arteris, Inc. (NASDAQ:AIP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 123,500 shares of the company’s stock, valued at approximately $1,914,000. Arteris comprises 1.6% of Nano Cap New Millennium Growth Fund L P’s investment portfolio, making the stock its 11th biggest holding.

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Arteris by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after acquiring an additional 2,613 shares during the period. Strs Ohio raised its position in Arteris by 16.5% during the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after acquiring an additional 2,900 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the 2nd quarter worth about $32,000. Finally, Franklin Resources Inc. boosted its stake in shares of Arteris by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock worth $16,578,000 after acquiring an additional 4,214 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arteris

In related news, CFO Nicholas B. Hawkins sold 221,035 shares of Arteris stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $33.40, for a total transaction of $7,382,569.00. Following the transaction, the chief financial officer owned 110,600 shares in the company, valued at approximately $3,694,040. This trade represents a 66.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raman Chitkara sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.05, for a total value of $150,250.00. Following the transaction, the director directly owned 142,867 shares in the company, valued at $4,293,153.35. This trade represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,087,958 shares of company stock valued at $25,925,862. 29.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AIP. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Northland Securities set a $38.00 target price on Arteris in a research note on Wednesday, May 13th. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. TD Cowen boosted their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group increased their price objective on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.75.

Arteris Stock Performance

AIP opened at $35.90 on Friday. Arteris, Inc. has a twelve month low of $6.88 and a twelve month high of $38.47. The firm has a market capitalization of $1.66 billion, a PE ratio of -45.44 and a beta of 1.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $23.08 and its 200 day moving average price is $18.20.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. As a group, sell-side analysts expect that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Arteris Company Profile

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.