Insider Selling: Arteris (NASDAQ:AIP) COO Sells 5,602 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 5,602 shares of Arteris stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total value of $98,875.30. Following the transaction, the chief operating officer owned 282,524 shares in the company, valued at $4,986,548.60. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Performance

AIP traded up $0.04 during midday trading on Monday, reaching $18.24. The company had a trading volume of 370,155 shares, compared to its average volume of 447,221. The business has a 50-day moving average of $15.67 and a two-hundred day moving average of $14.96. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $19.85.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. On average, analysts expect that Arteris, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

AIP has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Northland Securities set a $24.00 price objective on shares of Arteris in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Two 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. According to data from MarketBeat.com, Arteris presently has a consensus rating of “Hold” and an average target price of $20.17.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AIP. Needham Investment Management LLC increased its holdings in shares of Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Franklin Resources Inc. boosted its stake in Arteris by 6.2% during the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after buying an additional 101,646 shares during the last quarter. Vanguard Group Inc. grew its holdings in Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after buying an additional 120,947 shares in the last quarter. Westerly Capital Management LLC increased its stake in Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after acquiring an additional 598,840 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.