Arteris (NASDAQ:AIP) Stock: Insider Paul Alpern Sells 3,648 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,648 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $24.64, for a total transaction of $89,886.72. Following the completion of the transaction, the vice president directly owned 67,085 shares of the company’s stock, valued at approximately $1,652,974.40. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Price Performance

Shares of NASDAQ:AIP traded down $0.69 during midday trading on Monday, hitting $23.97. 784,618 shares of the stock were exchanged, compared to its average volume of 730,172. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $24.86 and a 200-day moving average price of $28.55. Arteris, Inc. has a twelve month low of $12.06 and a twelve month high of $50.26. The stock has a market cap of $1.18 billion, a P/E ratio of -27.55 and a beta of 1.90.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The firm had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. On average, research analysts forecast that Arteris, Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Arteris during the second quarter valued at about $160,129,000. Needham Investment Management LLC raised its stake 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 valued at $52,878,000 after acquiring an additional 86,500 shares during the last quarter. Wellington Management Group LLP grew its position in Arteris by 0.4% during the 2nd quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock worth $24,305,000 after acquiring an additional 1,897 shares during the last quarter. Granahan Investment Management LLC increased its stake in shares of Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after buying an additional 476,181 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Arteris during the 2nd quarter worth about $11,602,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on AIP. Craig Hallum assumed coverage on Arteris in a report on Monday, September 21st. They set a “buy” rating and a $30.00 target price on the stock. Roth Capital assumed coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target for the company. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $38.00 price target on shares of Arteris in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arteris has an average rating of “Moderate Buy” and an average target price of $39.43.

About Arteris

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.