Arteris (NASDAQ:AIP) Shares Down 8.3% – Should You Sell?

Arteris, Inc. (NASDAQ:AIP) shares fell 8.3% on Monday . The stock traded as low as $15.21 and last traded at $15.1340. 161,591 shares were traded during trading, a decline of 66% from the average session volume of 474,665 shares. The stock had previously closed at $16.51.

Analysts Set New Price Targets

Several research firms have commented on AIP. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Finally, Northland Securities set a $24.00 target price on Arteris in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arteris currently has an average rating of “Hold” and an average target price of $20.17.

Arteris Price Performance

The firm has a fifty day simple moving average of $15.54 and a 200 day simple moving average of $14.71. The company has a market cap of $798.18 million, a price-to-earnings ratio of -21.38 and a beta of 1.45.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Arteris

In related news, CEO K Charles Janac sold 32,988 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $18.35, for a total transaction of $605,329.80. Following the completion of the transaction, the chief executive officer owned 9,189,071 shares of the company’s stock, valued at approximately $168,619,452.85. The trade was a 0.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 9,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $14.66, for a total value of $131,940.00. Following the transaction, the insider directly owned 9,229,071 shares of the company’s stock, valued at $135,298,180.86. This represents a 0.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 636,196 shares of company stock worth $10,388,876 over the last ninety days. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Needham Investment Management LLC boosted its position in shares of Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after acquiring an additional 86,500 shares during the period. Franklin Resources Inc. increased its position in Arteris by 6.2% during the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after acquiring an additional 101,646 shares during the period. Vanguard Group Inc. increased its position in Arteris by 8.2% during the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after acquiring an additional 120,947 shares during the period. Westerly Capital Management LLC raised its stake in Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after purchasing an additional 598,840 shares during the last quarter. 64.36% of the stock is 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.