Arteris (NASDAQ:AIP) VP Paul Alpern Sells 6,003 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 6,003 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $35.91, for a total value of $215,567.73. Following the completion of the transaction, the vice president directly owned 70,733 shares of the company’s stock, valued at $2,540,022.03. This represents a 7.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arteris Trading Up 10.0%

AIP opened at $34.46 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The stock has a market cap of $1.59 billion, a PE ratio of -43.62 and a beta of 1.92. The business has a 50 day moving average of $36.78 and a 200-day moving average of $23.92.

Arteris (NASDAQ:AIP) last issued 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 firm had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. Equities research analysts predict that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price objective on shares of Arteris in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities lifted their target price on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.75.

Arteris News Summary

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris announced a collaboration with IC-Link by imec to accelerate next-generation AI and high-performance computing silicon, which could support future design wins and reinforce demand for its semiconductor IP in fast-growing end markets. Article Title
• Neutral Sentiment: The company continues to benefit from a generally constructive analyst backdrop after its last earnings report beat expectations on both EPS and revenue, which may be helping investor confidence in the stock’s outlook.
• Negative Sentiment: Several insiders, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC, sold shares this week. While insider selling does not necessarily signal a business problem, the timing can pressure sentiment because it may suggest executives and owners view the recent share price strength as a good opportunity to take profits.

Institutional Trading of Arteris

Institutional investors have recently bought and sold shares of the company. 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 buying an additional 290 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the second quarter valued at approximately $32,000. Royal Bank of Canada grew its holdings 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 valued at $66,000 after buying an additional 3,161 shares during the last quarter. BNP Paribas Financial Markets grew 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 buying an additional 2,595 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after acquiring an additional 7,400 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other 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.