Nicholas Hawkins Sells 10,431 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 10,431 shares of Arteris stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $28.26, for a total value of $294,780.06. Following the completion of the sale, the chief financial officer owned 95,666 shares of the company’s stock, valued at approximately $2,703,521.16. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arteris Trading Up 2.6%

NASDAQ:AIP traded up $0.73 on Friday, hitting $28.32. 426,056 shares of the stock were exchanged, compared to its average volume of 734,478. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -32.55 and a beta of 1.96. The company’s 50-day moving average price is $35.18 and its 200 day moving average price is $26.55.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. On average, equities research analysts forecast that Arteris, Inc. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

AIP has been the subject of a number of analyst reports. TD Cowen lifted their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Roth Capital started coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th. Finally, Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Arteris during the second quarter valued at approximately $53,000. Versant Capital Management Inc raised its holdings in Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the period. Allworth Financial LP acquired a new stake in Arteris in the second quarter worth $87,000. Raymond James Financial Inc. acquired a new stake in Arteris in the second quarter worth $32,000. Finally, State of Wyoming bought a new position in shares of Arteris during the second quarter worth $165,000. Institutional investors own 64.36% of the company’s stock.

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.