Arteris (NASDAQ:AIP) VP Paul Alpern Sells 3,648 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,648 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total value of $141,469.44. Following the transaction, the vice president owned 76,736 shares of the company’s stock, valued at approximately $2,975,822.08. This represents a 4.54% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Down 0.7%

Shares of AIP stock traded down $0.24 on Monday, hitting $34.82. The stock had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. The company’s 50 day moving average price is $36.32 and its 200-day moving average price is $23.54. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $1.61 billion, a P/E ratio of -44.08 and a beta of 1.92.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating 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. Analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in shares of Arteris in the first quarter valued at approximately $1,621,000. Strs Ohio acquired a new position in Arteris in the 1st quarter valued at $104,000. Geode Capital Management LLC increased its stake in Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after purchasing an additional 30,018 shares during the last quarter. Rhumbline Advisers boosted its stake in Arteris by 35.8% in the 2nd quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock worth $519,000 after buying an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Arteris by 8.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock worth $3,053,000 after acquiring an additional 25,448 shares during the period. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Ratings Changes

AIP has been the subject of several research reports. Northland Securities set a $38.00 price target on shares of Arteris in a research note on Wednesday, May 13th. TD Cowen boosted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating 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 cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Finally, Rosenblatt Securities increased their target price on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.75.

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.