Arteris (NASDAQ:AIP) CFO Sells 4,870 Shares

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 4,870 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total transaction of $85,955.50. Following the completion of the transaction, the chief financial officer directly owned 118,614 shares of the company’s stock, valued at approximately $2,093,537.10. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Price Performance

Shares of AIP stock traded up $0.04 during midday trading on Monday, reaching $18.24. 370,155 shares of the company traded hands, compared to its average volume of 447,221. The firm’s 50 day simple moving average is $15.67 and its two-hundred day simple moving average is $14.96. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85.

Arteris (NASDAQ:AIP) last released its quarterly earnings results 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. As a group, equities analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AIP shares. Wall Street Zen upgraded Arteris from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Northland Securities set a $24.00 target price on shares of Arteris in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.17.

Institutional Investors Weigh In On Arteris

A number of large investors have recently bought and sold shares of the stock. Intech Investment Management LLC grew its holdings in Arteris by 9.3% during the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after buying an additional 1,148 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Arteris by 7.7% during the 4th quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock worth $328,000 after purchasing an additional 1,504 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Arteris by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after buying an additional 2,613 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Arteris by 16.5% in the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after buying an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.