Geode Capital Management LLC Grows Stock Position in Arteris, Inc. (NASDAQ:AIP)

Geode Capital Management LLC raised its holdings in shares of Arteris, Inc. (NASDAQ:AIP) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 597,116 shares of the company’s stock after acquiring an additional 36,908 shares during the quarter. Geode Capital Management LLC owned approximately 1.49% of Arteris worth $4,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Needham Investment Management LLC lifted its stake in shares of Arteris by 14.7% during the third quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company’s stock valued at $21,114,000 after buying an additional 350,000 shares during the period. Essex Investment Management Co. LLC acquired a new position in Arteris in the third quarter valued at $2,504,000. Bank of New York Mellon Corp acquired a new stake in Arteris in the 2nd quarter worth about $580,000. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Arteris in the 2nd quarter valued at about $554,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Arteris by 36.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 253,211 shares of the company’s stock valued at $1,955,000 after acquiring an additional 67,414 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Arteris

In other Arteris news, CFO Nicholas B. Hawkins sold 19,299 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $8.14, for a total value of $157,093.86. Following the transaction, the chief financial officer now owns 192,414 shares in the company, valued at $1,566,249.96. The trade was a 9.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Isabelle F. Geday sold 15,550 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total value of $140,416.50. Following the sale, the director now owns 121,213 shares of the company’s stock, valued at $1,094,553.39. This represents a 11.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,222 shares of company stock worth $2,537,693. Corporate insiders own 33.70% of the company’s stock.

Arteris Price Performance

Arteris stock opened at $12.25 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $492.17 million, a P/E ratio of -12.76 and a beta of 1.25. The firm has a fifty day moving average of $8.89 and a 200-day moving average of $8.05. Arteris, Inc. has a 52-week low of $4.83 and a 52-week high of $12.39.

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.