JPMorgan Chase & Co. Boosts Position in Arteris, Inc. (NASDAQ:AIP)

JPMorgan Chase & Co. increased its position in shares of Arteris, Inc. (NASDAQ:AIP) by 33.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,455 shares of the company’s stock after acquiring an additional 31,213 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.31% of Arteris worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AIP. US Bancorp DE lifted its stake in shares of Arteris by 29.0% in the 4th quarter. US Bancorp DE now owns 5,702 shares of the company’s stock valued at $58,000 after purchasing an additional 1,283 shares during the last quarter. American Century Companies Inc. raised its holdings in Arteris by 6.0% in the 4th quarter. American Century Companies Inc. now owns 30,357 shares of the company’s stock valued at $309,000 after buying an additional 1,731 shares during the period. EntryPoint Capital LLC lifted its position in Arteris by 14.0% in the fourth quarter. EntryPoint Capital LLC now owns 19,814 shares of the company’s stock valued at $202,000 after buying an additional 2,430 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Arteris by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company’s stock worth $802,000 after buying an additional 3,298 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Arteris during the fourth quarter valued at about $64,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

AIP has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Arteris in a research report on Tuesday, February 18th. Northland Securities raised their price target on Arteris from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th.

Arteris Stock Up 2.7 %

Shares of AIP opened at $6.79 on Friday. The company’s 50-day simple moving average is $7.35 and its 200-day simple moving average is $8.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $12.64. The stock has a market capitalization of $278.04 million, a PE ratio of -7.80 and a beta of 1.31.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The business had revenue of $15.49 million for the quarter, compared to analyst estimates of $15.34 million. Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. Analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arteris news, CFO Nicholas B. Hawkins sold 5,968 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.57, for a total transaction of $51,145.76. Following the completion of the transaction, the chief financial officer now owns 186,123 shares in the company, valued at $1,595,074.11. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO K Charles Janac sold 50,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.33, for a total transaction of $516,500.00. Following the completion of the sale, the chief executive officer now owns 9,907,691 shares in the company, valued at $102,346,448.03. The trade was a 0.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,927 shares of company stock worth $918,829 in the last quarter. 33.70% of the stock is owned by company insiders.

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.