Paul Alpern Sells 5,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $13.16, for a total transaction of $65,800.00. Following the transaction, the vice president owned 65,960 shares of the company’s stock, valued at $868,033.60. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arteris Stock Performance

Shares of AIP opened at $14.89 on Friday. The business’s 50-day moving average is $11.49 and its two-hundred day moving average is $9.58. The company has a market capitalization of $650.40 million, a P/E ratio of -17.94 and a beta of 1.49. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $15.92.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $16.35 million. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.25%. Analysts forecast that Arteris, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

AIP has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. TD Cowen lifted their price objective on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Wednesday. Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday. Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Rosenblatt Securities lifted their target price on Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Strs Ohio grew its stake in shares of Arteris by 16.5% in the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after buying an additional 2,900 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Arteris during the 2nd quarter valued at about $32,000. Bank of America Corp DE grew its position in Arteris by 11.8% in the 2nd quarter. Bank of America Corp DE now owns 57,093 shares of the company’s stock valued at $544,000 after acquiring an additional 6,008 shares in the last quarter. CWM LLC grew its position in Arteris by 4,810.1% in the 1st quarter. CWM LLC now owns 10,213 shares of the company’s stock valued at $71,000 after acquiring an additional 10,005 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in Arteris by 3.6% during the third quarter. Essex Investment Management Co. LLC now owns 292,159 shares of the company’s stock worth $2,951,000 after purchasing an additional 10,156 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

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.