Arteris (NASDAQ:AIP) VP Sells $77,400.00 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 5,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $15.48, for a total transaction of $77,400.00. Following the completion of the transaction, the vice president directly owned 57,650 shares of the company’s stock, valued at approximately $892,422. The trade was a 7.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arteris Stock Performance

NASDAQ AIP opened at $14.93 on Friday. The firm’s fifty day moving average price is $16.31 and its two-hundred day moving average price is $13.07. The stock has a market cap of $652.14 million, a PE ratio of -17.99 and a beta of 1.47. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. As a group, sell-side analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on AIP. Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Monday, December 15th. Three equities 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. According to MarketBeat.com, Arteris currently has a consensus rating of “Hold” and an average price target of $17.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AIP. Raymond James Financial Inc. bought a new stake in Arteris during the 2nd quarter valued at $32,000. BNP Paribas Financial Markets increased its position 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 acquiring an additional 2,595 shares during the period. Savant Capital LLC purchased a new position in shares of Arteris in the second quarter valued at about $97,000. Penn Capital Management Company LLC bought a new position in shares of Arteris during the third quarter valued at about $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Arteris during the third quarter worth about $113,000. Institutional investors 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.