Paul Alpern Sells 5,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 5,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $15.48, for a total value of $77,400.00. Following the completion of the sale, the vice president directly owned 57,650 shares of the company’s stock, valued at $892,422. The trade was a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arteris Trading Down 3.4%

Arteris stock opened at $13.71 on Friday. The stock has a 50 day moving average of $16.30 and a two-hundred day moving average of $13.04. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85. The stock has a market capitalization of $598.85 million, a price-to-earnings ratio of -16.52 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

AIP has been the topic of a number of analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Three 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’s stock. Based on data from MarketBeat.com, Arteris presently has an average rating of “Hold” and an average price target of $17.50.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in Arteris by 0.3% during the third quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock worth $16,578,000 after purchasing an additional 4,214 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after buying an additional 120,947 shares during the period. Westerly Capital Management LLC grew its stake in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after buying an additional 745,000 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Arteris by 9.6% during the 2nd quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock worth $9,403,000 after buying an additional 86,288 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Arteris by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after buying an additional 30,018 shares during the period. 64.36% of the stock is owned by institutional investors and hedge funds.

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.