Paul Alpern Sells 4,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total transaction of $83,080.00. Following the completion of the transaction, the vice president owned 70,733 shares of the company’s stock, valued at $1,469,124.41. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arteris Stock Up 3.3%

Shares of NASDAQ AIP opened at $21.37 on Friday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.56 and a beta of 1.91. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The firm has a 50-day moving average price of $29.78 and a 200 day moving average price of $27.41. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The company had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. Equities research analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently modified their holdings of AIP. Needham Investment Management LLC lifted its stake in shares of Arteris by 2.6% during 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. BlackRock Inc. acquired a new stake in shares of Arteris during the second quarter worth $160,129,000. California State Teachers Retirement System grew its position in shares of Arteris by 105,728.3% in the second quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock valued at $87,829,000 after purchasing an additional 1,805,840 shares during the period. Franklin Resources Inc. increased its stake in Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after purchasing an additional 101,646 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after purchasing an additional 120,947 shares during the last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AIP. Roth Capital began coverage on Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price on the stock. Oppenheimer started coverage on Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. TD Cowen boosted their price objective on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $38.00 target price on shares of Arteris in a report on Friday, August 7th. 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, Arteris currently has an average rating of “Moderate Buy” and an average price target of $41.00.

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.