Insider Selling: Arteris (NASDAQ:AIP) COO Sells 39,541 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 39,541 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $43.15, for a total value of $1,706,194.15. Following the completion of the transaction, the chief operating officer directly owned 227,296 shares in the company, valued at approximately $9,807,822.40. The trade was a 14.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arteris Stock Up 1.4%

AIP stock traded up $0.58 during mid-day trading on Wednesday, hitting $42.14. The stock had a trading volume of 682,841 shares, compared to its average volume of 1,032,401. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 1-year low of $8.10 and a 1-year high of $44.94. The company has a fifty day moving average of $31.10 and a 200 day moving average of $21.36. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -53.34 and a beta of 1.98.

Arteris (NASDAQ:AIP) last issued its 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 firm had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. On average, equities analysts expect that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIP shares. TD Cowen upped their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised their target price on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Rosenblatt Securities lifted 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. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.75.

Institutional Investors Weigh In On Arteris

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Arteris in the 2nd quarter valued at $32,000. Royal Bank of Canada grew its holdings in Arteris by 366.7% during the 1st 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 period. BNP Paribas Financial Markets grew its stake in Arteris by 75.0% in 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 during the period. New York State Common Retirement Fund grew its position in Arteris by 352.4% in the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after purchasing an additional 7,400 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Arteris during the 4th quarter valued at about $162,000. 64.36% of the stock is currently owned by institutional investors.

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.