Acadian Asset Management LLC Sells 26,929 Shares of Arteris, Inc. (NASDAQ:AIP)

Acadian Asset Management LLC cut its stake in Arteris, Inc. (NASDAQ:AIP) by 5.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 507,543 shares of the company’s stock after selling 26,929 shares during the quarter. Acadian Asset Management LLC’s holdings in Arteris were worth $3,810,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Arteris by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after purchasing an additional 3,242 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Arteris during the 4th quarter worth $60,000. GSA Capital Partners LLP increased its stake in shares of Arteris by 26.9% in the first quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock worth $973,000 after purchasing an additional 28,165 shares in the last quarter. Rhumbline Advisers grew its stake in Arteris by 2,182.8% in the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock valued at $239,000 after buying an additional 30,428 shares in the last quarter. Finally, Worth Venture Partners LLC grew its position in shares of Arteris by 114.3% in the fourth quarter. Worth Venture Partners LLC now owns 109,921 shares of the company’s stock valued at $647,000 after purchasing an additional 58,620 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Arteris Price Performance

Shares of Arteris stock opened at $7.08 on Friday. The firm has a market cap of $272.43 million, a PE ratio of -6.87 and a beta of 1.12. The company’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $7.57. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 12-month low of $4.20 and a 12-month high of $9.54.

Arteris (NASDAQ:AIP) last posted its earnings results on Thursday, August 1st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The business had revenue of $14.58 million during the quarter, compared to the consensus estimate of $13.68 million. Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. During the same period in the previous year, the business earned ($0.25) earnings per share. As a group, equities analysts expect that Arteris, Inc. will post -0.9 EPS for the current year.

Insider Activity

In related news, CFO Nicholas B. Hawkins sold 11,628 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total value of $91,396.08. Following the completion of the sale, the chief financial officer now owns 224,659 shares of the company’s stock, valued at $1,765,819.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Nicholas B. Hawkins sold 11,628 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.86, for a total value of $91,396.08. Following the completion of the transaction, the chief financial officer now directly owns 224,659 shares of the company’s stock, valued at $1,765,819.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO K Charles Janac sold 9,168 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $7.23, for a total value of $66,284.64. Following the transaction, the chief executive officer now owns 296,070 shares in the company, valued at approximately $2,140,586.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,753 shares of company stock valued at $1,049,619. Company insiders own 33.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AIP. Westpark Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Arteris in a report on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Arteris in a report on Monday, August 5th.

Arteris 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.