Essex Investment Management Co. LLC Reduces Stock Position in Arteris, Inc. (NASDAQ:AIP)

Essex Investment Management Co. LLC lowered its stake in Arteris, Inc. (NASDAQ:AIP) by 0.8% during the 1st quarter, HoldingsChannel reports. The firm owned 284,039 shares of the company’s stock after selling 2,202 shares during the period. Essex Investment Management Co. LLC’s holdings in Arteris were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIP. American Century Companies Inc. boosted its stake in shares of Arteris by 6.0% during the 4th quarter. American Century Companies Inc. now owns 30,357 shares of the company’s stock worth $309,000 after acquiring an additional 1,731 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Arteris by 22.8% during the 4th quarter. LPL Financial LLC now owns 133,559 shares of the company’s stock worth $1,361,000 after acquiring an additional 24,812 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Arteris by 33.8% during the 4th quarter. JPMorgan Chase & Co. now owns 123,455 shares of the company’s stock worth $1,258,000 after acquiring an additional 31,213 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Arteris during the 4th quarter worth $1,272,000. Finally, Trexquant Investment LP boosted its stake in shares of Arteris by 24.1% during the 4th quarter. Trexquant Investment LP now owns 200,947 shares of the company’s stock worth $2,048,000 after acquiring an additional 39,086 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $14.00 price target on shares of Arteris in a research note on Wednesday, May 21st.

Insider Activity

In other news, CFO Nicholas B. Hawkins sold 4,948 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $9.22, for a total transaction of $45,620.56. Following the sale, the chief financial officer directly owned 130,548 shares in the company, valued at $1,203,652.56. This trade represents a 3.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul L. Alpern sold 3,609 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $9.25, for a total transaction of $33,383.25. Following the sale, the vice president owned 76,547 shares in the company, valued at $708,059.75. The trade was a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,448 shares of company stock valued at $1,127,923 over the last 90 days. Company insiders own 33.70% of the company’s stock.

Arteris Price Performance

Shares of AIP stock opened at $10.60 on Wednesday. The company has a market capitalization of $444.99 million, a price-to-earnings ratio of -12.93 and a beta of 1.44. Arteris, Inc. has a one year low of $5.46 and a one year high of $12.64. The company’s fifty day moving average price is $8.73 and its 200-day moving average price is $8.43.

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.