Arteris (NASDAQ:AIP) CFO Sells $113,250.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $37.75, for a total transaction of $113,250.00. Following the completion of the transaction, the chief financial officer directly owned 108,549 shares of the company’s stock, valued at approximately $4,097,724.75. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Arteris Stock Down 0.1%

Shares of Arteris stock traded down $0.02 during trading hours on Thursday, reaching $36.92. 937,669 shares of the company’s stock were exchanged, compared to its average volume of 645,970. The company has a 50 day moving average of $24.82 and a two-hundred day moving average of $18.85. Arteris, Inc. has a fifty-two week low of $7.53 and a fifty-two week high of $38.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.70 billion, a P/E ratio of -46.73 and a beta of 1.93.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, sell-side analysts forecast that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

AIP has been the subject of several research reports. Rosenblatt Securities raised their price objective on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. TD Cowen raised their price objective on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Northland Securities set a $38.00 price objective on shares of Arteris in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Westerly Capital Management LLC grew its stake in shares of Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after buying an additional 745,000 shares during the last quarter. Nuveen LLC grew its stake in shares of Arteris by 872.3% during the fourth quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after buying an additional 661,454 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after buying an additional 598,840 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after buying an additional 546,341 shares during the last quarter. Finally, Informed Momentum Co LLC bought a new stake in shares of Arteris during the fourth quarter worth $5,755,000. 64.36% of the stock is owned by 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.