Arteris (NASDAQ:AIP) Shares Down 3.7% – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AIP. Northland Securities set a $38.00 price objective on Arteris in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arteris in a research note on Friday, August 7th. Roth Capital began coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. TD Cowen increased their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Oppenheimer initiated coverage on shares of Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Arteris Price Performance

The company has a 50-day moving average of $34.31 and a 200 day moving average of $26.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $1.15 billion, a P/E ratio of -27.00 and a beta of 1.96.

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

Insider Activity at Arteris

In other news, Director Saiyed Atiq Raza sold 70,000 shares of Arteris stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $30.01, for a total value of $2,100,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO K Charles Janac sold 26,106 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.97, for a total value of $834,608.82. Following the sale, the chief executive officer owned 8,329,071 shares in the company, valued at approximately $266,280,399.87. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,288,545 shares of company stock valued at $45,118,304. Insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new stake in Arteris in the 2nd quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Arteris during the second quarter valued at approximately $53,000. Versant Capital Management Inc grew its stake in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after purchasing an additional 3,161 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.