Insider Selling: Arteris, Inc. (NASDAQ:AIP) VP Sells $21,762.27 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul L. Alpern sold 3,609 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $6.03, for a total transaction of $21,762.27. Following the transaction, the vice president now directly owns 83,717 shares of the company’s stock, valued at $504,813.51. The trade was a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Arteris Stock Performance

NASDAQ:AIP opened at $5.99 on Monday. Arteris, Inc. has a 52 week low of $5.76 and a 52 week high of $12.64. The company has a fifty day simple moving average of $8.70 and a two-hundred day simple moving average of $8.81. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The company has a market cap of $245.28 million, a price-to-earnings ratio of -6.88 and a beta of 1.31.

Arteris (NASDAQ:AIP) last posted its quarterly 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 company had revenue of $15.49 million during the quarter, compared to analyst estimates of $15.34 million. Arteris had a negative net margin of 58.27% and a negative return on equity of 828.71%. As a group, equities analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

A number of large investors have recently modified their holdings of AIP. G2 Investment Partners Management LLC acquired a new position in shares of Arteris during the fourth quarter worth $2,799,000. Federated Hermes Inc. lifted its holdings in Arteris by 729.4% during the 4th quarter. Federated Hermes Inc. now owns 165,878 shares of the company’s stock worth $1,690,000 after buying an additional 145,878 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Arteris during the 4th quarter worth about $1,272,000. EAM Investors LLC purchased a new position in shares of Arteris in the 4th quarter valued at about $983,000. Finally, Millennium Management LLC raised its position in shares of Arteris by 56.5% during the 4th quarter. Millennium Management LLC now owns 238,309 shares of the company’s stock worth $2,428,000 after acquiring an additional 85,996 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIP. 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. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Arteris in a report on Tuesday, February 18th.

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.