Arteris (NASDAQ:AIP) CFO Nicholas Hawkins Sells 221,035 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 221,035 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $33.40, for a total transaction of $7,382,569.00. Following the completion of the transaction, the chief financial officer directly owned 110,600 shares in the company, valued at $3,694,040. This trade represents a 66.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arteris Price Performance

AIP stock opened at $33.71 on Friday. Arteris, Inc. has a one year low of $6.88 and a one year high of $38.47. The company’s fifty day moving average price is $21.50 and its 200-day moving average price is $17.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.13 and a current ratio of 0.73. The company has a market capitalization of $1.56 billion, a PE ratio of -42.67 and a beta of 1.93.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. On average, equities analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of Arteris

Several hedge funds have recently modified their holdings of AIP. Intech Investment Management LLC increased its holdings in shares of Arteris by 9.3% during the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after acquiring an additional 1,148 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Arteris by 7.7% during the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after acquiring an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Arteris by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after acquiring an additional 2,613 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Arteris by 16.5% during the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after acquiring an additional 2,900 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Northland Securities set a $38.00 target price on shares of Arteris in a research note on Wednesday. TD Cowen boosted their target price on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities boosted their target price on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price objective on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday. Two 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 has a consensus rating of “Hold” and an average price target of $37.75.

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.