Federated Hermes Inc. Sells 70,000 Shares of Arteris, Inc. (NASDAQ:AIP)

Federated Hermes Inc. decreased its holdings in Arteris, Inc. (NASDAQ:AIP) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after selling 70,000 shares during the period. Federated Hermes Inc. owned about 0.16% of Arteris worth $353,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AIP. Acadian Asset Management LLC raised its stake in Arteris by 120.1% during the 3rd quarter. Acadian Asset Management LLC now owns 368,220 shares of the company’s stock valued at $2,396,000 after buying an additional 200,950 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Arteris during the 3rd quarter valued at about $363,000. Ibex Investors LLC purchased a new stake in shares of Arteris during the 3rd quarter valued at about $99,000. Algert Global LLC bought a new position in shares of Arteris in the 3rd quarter worth approximately $142,000. Finally, Worth Venture Partners LLC boosted its holdings in shares of Arteris by 22.6% in the third quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock worth $334,000 after buying an additional 9,448 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wedbush restated an “outperform” rating and issued a $17.00 price objective on shares of Arteris in a research note on Tuesday, February 20th. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Arteris in a research note on Friday.

Insider Buying and Selling at Arteris

In other Arteris news, CEO K Charles Janac sold 10,103 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $71,024.09. Following the completion of the transaction, the chief executive officer now owns 318,644 shares in the company, valued at approximately $2,240,067.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $6.39, for a total transaction of $71,887.50. Following the sale, the vice president now directly owns 81,042 shares in the company, valued at approximately $517,858.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO K Charles Janac sold 10,103 shares of Arteris stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total value of $71,024.09. Following the completion of the transaction, the chief executive officer now owns 318,644 shares of the company’s stock, valued at approximately $2,240,067.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,264 shares of company stock worth $561,883. Insiders own 36.10% of the company’s stock.

Arteris Stock Performance

NASDAQ:AIP opened at $8.21 on Friday. The stock has a 50-day moving average price of $6.95 and a 200 day moving average price of $6.19. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. Arteris, Inc. has a 12-month low of $3.82 and a 12-month high of $8.24. The stock has a market capitalization of $315.02 million, a P/E ratio of -7.97 and a beta of 1.04.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Arteris had a negative net margin of 69.70% and a negative return on equity of 170.93%. The company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $11.90 million. Equities research analysts forecast that Arteris, Inc. will post -0.9 EPS for the current fiscal year.

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.