Arteris (NASDAQ:AIP) Director Wayne Cantwell Sells 38,500 Shares

Arteris, Inc. (NASDAQ:AIP) Director Wayne Cantwell sold 38,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $37.23, for a total value of $1,433,355.00. Following the completion of the transaction, the director directly owned 189,698 shares of the company’s stock, valued at $7,062,456.54. The trade was a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arteris Price Performance

Shares of NASDAQ:AIP opened at $36.94 on Thursday. The business’s fifty day moving average price is $24.82 and its two-hundred day moving average price is $18.85. The stock has a market cap of $1.71 billion, a PE ratio of -46.76 and a beta of 1.93. 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 one year low of $7.40 and a one year high of $38.47.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, analysts forecast that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the second quarter worth about $32,000. BNP Paribas Financial Markets increased its position 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 worth $61,000 after acquiring an additional 2,595 shares during the last quarter. Royal Bank of Canada increased its position in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares during the last quarter. Strs Ohio purchased a new stake in shares of Arteris during the first quarter worth about $104,000. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Arteris during the third quarter worth about $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AIP shares. Northland Securities set a $38.00 target price on Arteris in a research report on Wednesday, May 13th. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Jefferies Financial Group raised their price objective on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Finally, Rosenblatt Securities raised their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Arteris has a consensus rating of “Hold” and a consensus price target of $37.75.

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.