Nicholas Hawkins Sells 5,377 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 5,377 shares of Arteris stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total transaction of $208,520.06. Following the completion of the transaction, the chief financial officer directly owned 103,172 shares of the company’s stock, valued at approximately $4,001,010.16. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Performance

Shares of AIP traded down $0.24 during mid-day trading on Monday, reaching $34.82. The company’s stock had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.61 billion, a P/E ratio of -44.08 and a beta of 1.92. Arteris, Inc. has a 1-year low of $8.42 and a 1-year high of $50.26. The business has a 50-day simple moving average of $36.32 and a two-hundred day simple moving average of $23.54.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. As a group, equities research analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AIP has been the subject of several analyst reports. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. TD Cowen upped their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Jefferies Financial Group lifted their price target on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arteris presently has a consensus rating of “Hold” and an average target price of $37.75.

Institutional Trading of Arteris

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

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.