Nicholas Hawkins Sells 4,472 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 4,472 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $15.45, for a total transaction of $69,092.40. Following the sale, the chief financial officer directly owned 87,959 shares of the company’s stock, valued at approximately $1,358,966.55. This represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arteris Stock Up 8.3%

AIP stock traded up $1.35 during midday trading on Tuesday, reaching $17.58. The company had a trading volume of 675,497 shares, compared to its average volume of 505,861. The firm has a market capitalization of $767.89 million, a PE ratio of -21.18 and a beta of 1.48. The stock has a 50 day moving average price of $15.12 and a 200 day moving average price of $11.95. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Research analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Arteris in the 2nd quarter worth $32,000. BNP Paribas Financial Markets boosted its holdings in Arteris by 75.0% during the third 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 during the period. Savant Capital LLC acquired a new stake in shares of Arteris in the second quarter valued at about $97,000. Penn Capital Management Company LLC acquired a new stake in shares of Arteris in the third quarter valued at about $109,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Arteris in the second quarter worth about $104,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Arteris in a research note on Monday, December 15th. Jefferies Financial Group raised Arteris to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Finally, TD Cowen raised their target price on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

About Arteris

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.