The Manufacturers Life Insurance Company Invests $86,000 in Arteris, Inc. (NASDAQ:AIP)

The Manufacturers Life Insurance Company bought a new stake in shares of Arteris, Inc. (NASDAQ:AIP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,516 shares of the company’s stock, valued at approximately $86,000.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Arteris by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after buying an additional 3,242 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Arteris by 25.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company’s stock worth $5,211,000 after purchasing an additional 143,385 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Arteris by 28.1% during the first quarter. Acadian Asset Management LLC now owns 534,472 shares of the company’s stock valued at $3,911,000 after purchasing an additional 117,312 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Arteris by 26.9% during the first quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock valued at $973,000 after purchasing an additional 28,165 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Arteris by 6.1% during the second quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock valued at $861,000 after buying an additional 6,600 shares during the period. Institutional investors own 64.36% of the company’s stock.

Insiders Place Their Bets

In other news, CEO K Charles Janac sold 5,520 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $7.18, for a total transaction of $39,633.60. Following the transaction, the chief executive officer now owns 287,247 shares in the company, valued at $2,062,433.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO K Charles Janac sold 5,520 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $7.18, for a total value of $39,633.60. Following the transaction, the chief executive officer now directly owns 287,247 shares of the company’s stock, valued at $2,062,433.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nicholas B. Hawkins sold 11,628 shares of Arteris stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total value of $91,396.08. Following the sale, the chief financial officer now directly owns 224,659 shares of the company’s stock, valued at approximately $1,765,819.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,360 shares of company stock valued at $988,781. 33.70% of the stock is currently owned by corporate insiders.

Arteris Price Performance

Shares of AIP opened at $7.09 on Monday. The company has a 50 day moving average of $7.50 and a two-hundred day moving average of $7.65. 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 twelve month low of $4.20 and a twelve month high of $9.54. The company has a market cap of $272.82 million, a price-to-earnings ratio of -6.88 and a beta of 1.11.

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

Analysts Set New Price Targets

AIP has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Arteris in a research report on Monday, August 5th. Westpark Capital reaffirmed a “buy” rating and set a $11.00 price objective on shares of Arteris in a research report on Wednesday, July 31st.

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.