Insider Selling: Arteris (NASDAQ:AIP) VP Sells $83,080.00 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.77, for a total value of $83,080.00. Following the completion of the transaction, the vice president directly owned 70,733 shares in the company, valued at approximately $1,469,124.41. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arteris Trading Up 3.3%

Shares of AIP opened at $21.37 on Friday. The firm has a market cap of $1.05 billion, a P/E ratio of -24.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The company has a 50 day simple moving average of $29.78 and a two-hundred day simple moving average of $27.41.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The company had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. On average, equities analysts expect that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AIP has been the subject of several research reports. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Oppenheimer assumed coverage on Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 target price on shares of Arteris in a research report on Friday, August 7th. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Roth Capital began coverage on Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Hedge Funds Weigh In On Arteris

Institutional investors have recently bought and sold shares of the business. Needham Investment Management LLC grew its stake in shares of Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after buying an additional 86,500 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Arteris during the 2nd quarter valued at about $160,129,000. California State Teachers Retirement System raised its position in shares of Arteris by 105,728.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock valued at $87,829,000 after buying an additional 1,805,840 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after acquiring an additional 101,646 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after acquiring an additional 120,947 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

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.