Insider Selling: Arteris (NASDAQ:AIP) CFO Sells 4,472 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 4,472 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $15.45, for a total transaction of $69,092.40. Following the sale, the chief financial officer owned 87,959 shares of the company’s stock, valued at $1,358,966.55. This represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Arteris Trading Up 8.3%

NASDAQ:AIP traded up $1.35 during midday trading on Tuesday, hitting $17.58. 675,497 shares of the company were exchanged, compared to its average volume of 505,861. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The company has a market capitalization of $767.89 million, a PE ratio of -21.18 and a beta of 1.48. The company has a fifty day simple moving average of $15.12 and a 200 day simple moving average of $11.95.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.00 million. As a group, equities research analysts expect that Arteris, Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Arteris to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. TD Cowen increased their price target on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in shares of Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after acquiring an additional 260,277 shares in the last quarter. Acuitas Investments LLC bought a new position in Arteris during the second quarter worth $858,000. Worth Venture Partners LLC bought a new position in Arteris during the second quarter worth $451,000. Franklin Resources Inc. boosted its holdings in Arteris by 9.6% in the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after purchasing an additional 142,936 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Arteris during the second quarter valued at $254,000. Institutional investors and hedge funds 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.