Arteris (NASDAQ:AIP) Shares Down 3.7% – What’s Next?

Arteris, Inc. (NASDAQ:AIP) traded down 3.7% during trading on Friday . The stock traded as low as $23.05 and last traded at $23.08. Approximately 98,712 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 727,956 shares. The stock had previously closed at $23.96.

Analyst Ratings Changes

AIP has been the topic of several research reports. Oppenheimer initiated coverage on Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target on the stock. Northland Securities set a $38.00 target price on shares of Arteris in a research report on Wednesday, May 13th. TD Cowen lifted their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Roth Capital began coverage on shares of Arteris in a research note on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target for the company. Finally, Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

Arteris Stock Down 2.0%

The firm has a 50 day simple moving average of $34.31 and a two-hundred day simple moving average of $26.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -27.00 and a beta of 1.96.

Arteris (NASDAQ:AIP) last posted its earnings results 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). The company had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. As a group, sell-side analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.

Insider Buying and Selling

In other Arteris news, major shareholder Bayview Legacy, Llc sold 192,686 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total value of $6,998,355.52. Following the sale, the insider directly owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Saiyed Atiq Raza sold 70,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.02, for a total transaction of $2,521,400.00. Following the completion of the transaction, the director directly owned 140,000 shares of the company’s stock, valued at $5,042,800. This trade represents a 33.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,288,545 shares of company stock valued at $45,118,304 in the last 90 days. 23.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Arteris during the 2nd quarter valued at about $160,129,000. Westerly Capital Management LLC raised its holdings in Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after buying an additional 745,000 shares during the period. Nuveen LLC raised its holdings in Arteris by 872.3% during the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after buying an additional 661,454 shares during the period. Goldman Sachs Group Inc. lifted its stake in Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after buying an additional 598,840 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its position in Arteris by 201.0% in the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after acquiring an additional 476,181 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors.

Arteris Company Profile

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.