Insider Selling: Arteris (NASDAQ:AIP) Director Sells $1,433,355.00 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Wayne Cantwell sold 38,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $37.23, for a total value of $1,433,355.00. Following the completion of the transaction, the director directly owned 189,698 shares in the company, valued at approximately $7,062,456.54. This trade represents a 16.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arteris Price Performance

Shares of AIP opened at $35.95 on Friday. Arteris, Inc. has a 52-week low of $7.53 and a 52-week high of $38.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The business’s 50 day moving average price is $25.66 and its two-hundred day moving average price is $19.12. The firm has a market cap of $1.66 billion, a PE ratio of -45.51 and a beta of 1.93.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. On average, equities analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AIP. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. TD Cowen upped their price target on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Rosenblatt Securities upped their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arteris presently has an average rating of “Hold” and an average target price of $37.75.

Institutional Trading of Arteris

A number of institutional investors and hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the second quarter valued at approximately $32,000. BNP Paribas Financial Markets grew its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Royal Bank of Canada grew its stake in Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after purchasing an additional 3,161 shares during the period. Strs Ohio bought a new position in Arteris in the 1st quarter valued at $104,000. Finally, Penn Capital Management Company LLC bought a new position in Arteris in the 3rd quarter valued at $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.