Arteris (NASDAQ:AIP) Trading Down 9.1% – Should You Sell?

Arteris, Inc. (NASDAQ:AIP)’s stock price fell 9.1% during trading on Monday . The stock traded as low as $20.83 and last traded at $20.6260. Approximately 207,873 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 726,715 shares. The stock had previously closed at $22.69.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AIP. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Oppenheimer assumed coverage on Arteris in a research 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 set a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Finally, Roth Capital assumed coverage on shares of Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.00.

Arteris Stock Down 1.0%

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -23.46 and a beta of 1.91. The stock has a 50 day moving average of $27.32 and a 200 day moving average of $27.84.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The firm had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. As a group, analysts expect that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arteris news, major shareholder Bayview Legacy, Llc sold 192,686 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the sale, the insider owned 8,555,047 shares in the company, valued at $310,719,307.04. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Saiyed Raza sold 70,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.01, for a total transaction of $2,100,700.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,177,382 shares of company stock worth $37,652,509 over the last ninety days. 23.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arteris

A number of institutional investors have recently modified their holdings of AIP. Versant Capital Management Inc increased its position in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after acquiring an additional 290 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Arteris during the 2nd quarter worth $53,000. Allworth Financial LP acquired a new position in Arteris during the 2nd quarter worth $87,000. Wellington Management Group LLP grew its stake in shares of Arteris by 0.4% in the second quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock worth $24,305,000 after purchasing an additional 1,897 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

About Arteris

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company’s product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.