Paul Alpern Sells 3,648 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,648 shares of Arteris stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total value of $141,469.44. Following the sale, the vice president owned 76,736 shares in the company, valued at $2,975,822.08. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Performance

AIP stock traded down $0.24 during midday trading on Monday, reaching $34.82. The company had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. The firm has a market capitalization of $1.61 billion, a PE ratio of -44.08 and a beta of 1.92. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $36.32 and a 200 day moving average price of $23.54.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. Analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AIP. Versant Capital Management Inc lifted its holdings in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Arteris by 10.4% in the first quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock valued at $1,758,000 after purchasing an additional 10,062 shares during the period. Royal Bank of Canada raised its position in shares of Arteris by 366.7% in the first 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. Quantinno Capital Management LP lifted its stake in shares of Arteris by 21.5% in the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock worth $297,000 after buying an additional 3,200 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Arteris during the 1st quarter worth $2,124,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AIP shares. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen upped their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price objective on Arteris in a research report on Wednesday, May 13th. Jefferies Financial Group raised their price target on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities boosted their price target on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.75.

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.