Nicholas Hawkins Sells 10,431 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 10,431 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $28.26, for a total value of $294,780.06. Following the transaction, the chief financial officer directly owned 95,666 shares in the company, valued at $2,703,521.16. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arteris Trading Up 2.6%

Arteris stock opened at $28.32 on Friday. The business has a 50-day simple moving average of $35.06 and a two-hundred day simple moving average of $26.57. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The company has a quick ratio of 0.73, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.39 billion, a P/E ratio of -32.55 and a beta of 1.96.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Analysts predict that Arteris, Inc. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AIP. TD Cowen upped their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Roth Capital initiated coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price for the company. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Northland Securities set a $38.00 price target on Arteris in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Institutional Trading of Arteris

A number of hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Arteris in the 2nd quarter worth approximately $53,000. Versant Capital Management Inc boosted its position in shares of 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 in the last quarter. Allworth Financial LP purchased a new stake in Arteris in the second quarter valued at about $87,000. Raymond James Financial Inc. acquired a new position in shares of Arteris during the second quarter valued at about $32,000. Finally, State of Wyoming purchased a new position in shares of Arteris in the 2nd quarter valued at approximately $165,000. 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.