Insider Selling: Arteris (NASDAQ:AIP) VP Sells 4,000 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.04, for a total value of $120,160.00. Following the sale, the vice president directly owned 70,733 shares of the company’s stock, valued at $2,124,819.32. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arteris Stock Down 3.6%

Shares of NASDAQ AIP traded down $1.16 during trading hours on Wednesday, hitting $30.93. The stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. The company has a market capitalization of $1.43 billion, a P/E ratio of -39.15 and a beta of 1.96. The firm’s 50-day moving average price is $36.29 and its two-hundred day moving average price is $25.97. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business 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 -0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Arteris

Large investors have recently made changes to their positions in the business. Huntleigh Advisors Inc. acquired a new stake in Arteris in the 4th quarter valued at approximately $1,832,000. Nano Cap New Millennium Growth Fund L P bought a new position in Arteris in the 4th quarter worth approximately $1,914,000. Needham Investment Management LLC lifted its holdings in shares of Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after buying an additional 86,500 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Arteris by 201.0% during the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after buying an additional 476,181 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Arteris in the first quarter valued at approximately $2,124,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AIP shares. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Roth Capital assumed coverage on shares of Arteris in a report on Tuesday. They issued a “buy” rating and a $40.00 price objective for the company. Northland Securities set a $38.00 target price on shares of Arteris in a research report on Wednesday, May 13th. TD Cowen raised their target price on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group boosted their price target on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Arteris Company Profile

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.