Arteris (NASDAQ:AIP) VP Sells $64,404.85 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,649 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $17.65, for a total transaction of $64,404.85. Following the transaction, the vice president owned 86,386 shares in the company, valued at approximately $1,524,712.90. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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

NASDAQ AIP traded up $0.04 during trading on Monday, reaching $18.24. 370,155 shares of the company’s stock traded hands, compared to its average volume of 477,268. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85. The firm has a market cap of $829.37 million, a price-to-earnings ratio of -22.24 and a beta of 1.43. The company’s 50 day simple moving average is $15.62 and its two-hundred day simple moving average is $14.90.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. Research analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Arteris

Institutional investors have recently made changes to their positions in the business. Roubaix Capital LLC acquired a new position in Arteris during the 3rd quarter valued at about $2,361,000. Squarepoint Ops LLC boosted its holdings in Arteris by 143.8% in the second quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock worth $1,153,000 after acquiring an additional 71,340 shares in 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 acquiring an additional 546,341 shares during the last quarter. Herald Investment Management Ltd grew its stake in shares of Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock worth $4,036,000 after acquiring an additional 100,000 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of Arteris by 59.3% during the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company’s stock valued at $1,334,000 after acquiring an additional 49,153 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Northland Securities set a $24.00 price objective on Arteris in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arteris currently has a consensus rating of “Hold” and a consensus price target of $20.17.

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.