Insider Selling: Arteris (NASDAQ:AIP) VP Sells $450,322.04 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 12,502 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.02, for a total transaction of $450,322.04. Following the completion of the transaction, the vice president directly owned 80,384 shares of the company’s stock, valued at approximately $2,895,431.68. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arteris Stock Down 7.8%

Arteris stock opened at $34.28 on Friday. The company has a market cap of $1.58 billion, a P/E ratio of -43.39 and a beta of 1.98. Arteris, Inc. has a 1-year low of $7.65 and a 1-year high of $38.99. The company has a fifty day simple moving average of $27.69 and a 200 day simple moving average of $19.89. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. Research analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Jefferies Financial Group boosted their price target on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. TD Cowen boosted their price target on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.75.

Institutional Trading of Arteris

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its stake in Arteris by 9.3% in the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after buying an additional 1,148 shares during the period. Deutsche Bank AG lifted its holdings in shares of Arteris by 7.7% in the 4th quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock worth $328,000 after purchasing an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Arteris by 12.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after purchasing an additional 2,613 shares in the last quarter. Finally, Strs Ohio raised its position in Arteris by 16.5% in the 3rd quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after buying an additional 2,900 shares during the last quarter. 64.36% of the stock is currently 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.