Insider Selling: Arteris (NASDAQ:AIP) COO Sells 17,937 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 17,937 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $17.92, for a total value of $321,431.04. Following the completion of the sale, the chief operating officer owned 275,159 shares in the company, valued at approximately $4,930,849.28. This represents a 6.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Arteris Trading Up 5.6%

AIP traded up $1.01 on Tuesday, reaching $19.19. The stock had a trading volume of 1,112,895 shares, compared to its average volume of 590,407. The company has a market cap of $838.22 million, a P/E ratio of -23.12 and a beta of 1.48. The business’s 50-day moving average price is $13.75 and its two-hundred day moving average price is $10.77. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.30.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. As a group, analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on AIP shares. Rosenblatt Securities raised their price target on shares of Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. TD Cowen upped their price objective on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group upgraded Arteris to a “hold” rating in a report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new position in shares of Arteris during the 2nd quarter worth $32,000. BNP Paribas Financial Markets increased its holdings in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares in the last quarter. Savant Capital LLC acquired a new position in Arteris during the second quarter worth about $97,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Arteris in the second quarter valued at about $104,000. Finally, Strs Ohio acquired a new stake in shares of Arteris in the first quarter valued at approximately $104,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.