Arteris, Inc. (NASDAQ:AIP) Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC increased its stake in Arteris, Inc. (NASDAQ:AIP) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,735,000 shares of the company’s stock after purchasing an additional 350,000 shares during the period. Arteris accounts for 1.6% of Needham Investment Management LLC’s portfolio, making the stock its 16th largest position. Needham Investment Management LLC owned approximately 6.81% of Arteris worth $21,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE bought a new stake in shares of Arteris during the third quarter valued at approximately $34,000. The Manufacturers Life Insurance Company acquired a new position in Arteris during the second quarter worth about $86,000. Algert Global LLC bought a new position in shares of Arteris in the second quarter valued at $115,000. MetLife Investment Management LLC increased its stake in Arteris by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 16,951 shares of the company’s stock worth $131,000 after purchasing an additional 9,551 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Arteris during the third quarter valued at about $226,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Arteris in a report on Wednesday, November 6th.

Insiders Place Their Bets

In other Arteris news, Director Wayne C. Cantwell sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.95, for a total value of $104,250.00. Following the sale, the director now owns 243,198 shares of the company’s stock, valued at $1,690,226.10. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO K Charles Janac sold 5,520 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $7.18, for a total transaction of $39,633.60. Following the completion of the sale, the chief executive officer now owns 287,247 shares in the company, valued at $2,062,433.46. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,751 shares of company stock valued at $951,813 in the last three months. Insiders own 33.70% of the company’s stock.

Arteris Stock Performance

NASDAQ AIP traded down $0.09 during trading on Tuesday, reaching $8.52. 29,922 shares of the company’s stock were exchanged, compared to its average volume of 160,785. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. Arteris, Inc. has a fifty-two week low of $4.83 and a fifty-two week high of $9.54. The company’s fifty day simple moving average is $7.65 and its 200-day simple moving average is $7.75.

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.