Arteris (NASDAQ:AIP) VP Sells 4,000 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.04, for a total transaction of $120,160.00. Following the transaction, the vice president owned 70,733 shares of the company’s stock, valued at approximately $2,124,819.32. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Arteris Price Performance

Shares of AIP traded down $1.16 during mid-day trading on Wednesday, hitting $30.93. The company’s stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. 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 50-day moving average price of $36.29 and a 200 day moving average price of $25.97. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, research analysts predict that Arteris, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Walleye Trading LLC purchased a new stake in Arteris in the 2nd quarter worth approximately $1,347,000. Versant Capital Management Inc grew its holdings in shares of Arteris by 33.7% during 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 in the last quarter. Janus Henderson Group PLC increased its stake in shares of Arteris by 10.4% in the first quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock worth $1,758,000 after acquiring an additional 10,062 shares during the last quarter. Royal Bank of Canada increased 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 acquiring an additional 3,161 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Arteris by 21.5% in the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock worth $297,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIP. Roth Capital initiated coverage on Arteris in a research note on Tuesday. They set a “buy” rating and a $40.00 price objective for the company. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Oppenheimer assumed coverage on Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price for the company. TD Cowen increased their price target on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on shares of Arteris in a report on Wednesday, May 13th. Four 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. Based on data from MarketBeat, Arteris has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.