Insider Selling: Arteris (NASDAQ:AIP) CFO Sells 5,836 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 5,836 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $17.27, for a total transaction of $100,787.72. Following the sale, the chief financial officer directly owned 82,267 shares of the company’s stock, valued at approximately $1,420,751.09. This represents a 6.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arteris Stock Down 4.5%

AIP stock traded down $0.79 during midday trading on Thursday, reaching $16.63. The company had a trading volume of 374,864 shares, compared to its average volume of 450,242. The firm has a market capitalization of $726.40 million, a PE ratio of -20.04 and a beta of 1.48. The stock has a 50 day moving average price of $15.27 and a 200 day moving average price of $12.05. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. Research analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently bought and sold shares of AIP. AQR Capital Management LLC purchased a new stake in Arteris during the first quarter valued at about $1,621,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Arteris by 48.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 249,517 shares of the company’s stock valued at $1,724,000 after acquiring an additional 81,516 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Arteris by 40.6% during the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after acquiring an additional 260,277 shares during the period. Strs Ohio purchased a new stake in shares of Arteris in the 1st quarter valued at approximately $104,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Arteris in the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AIP shares. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Cowen reiterated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. TD Cowen raised their price target on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

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.