Arteris (NASDAQ:AIP) VP Paul Alpern Sells 12,502 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 12,502 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.02, for a total value of $450,322.04. Following the sale, the vice president owned 80,384 shares in the company, valued at approximately $2,895,431.68. The trade was a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Arteris Stock Down 1.4%

AIP stock opened at $37.41 on Thursday. The firm’s fifty day simple moving average is $26.95 and its 200-day simple moving average is $19.63. The company has a market capitalization of $1.73 billion, a P/E ratio of -47.35 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. Arteris, Inc. has a 12 month low of $7.56 and a 12 month high of $38.99.

Arteris (NASDAQ:AIP) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $21.03 million. As a group, equities research analysts forecast that Arteris, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

AIP has been the topic of several recent research reports. Rosenblatt Securities upped their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen upped 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. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on Arteris in a research note on Wednesday, May 13th. Two 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. According to MarketBeat.com, Arteris currently has a consensus rating of “Hold” and an average price target of $37.75.

Institutional Trading of Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new position in Arteris during the second quarter worth approximately $32,000. BNP Paribas Financial Markets boosted its position in Arteris by 75.0% during the third 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 in the last quarter. Royal Bank of Canada boosted its position in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares in the last quarter. Strs Ohio purchased a new position in Arteris during the first quarter worth approximately $104,000. Finally, Penn Capital Management Company LLC purchased a new position in Arteris during the third quarter worth approximately $109,000. 64.36% of the stock is owned by hedge funds and other 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.