Insider Selling: Arteris (NASDAQ:AIP) COO Sells 1,552 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 1,552 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $18.23, for a total value of $28,292.96. Following the sale, the chief operating officer directly owned 280,972 shares in the company, valued at approximately $5,122,119.56. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Up 0.2%

AIP stock traded up $0.04 during midday trading on Monday, reaching $18.24. 370,155 shares of the stock were exchanged, compared to its average volume of 447,221. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85. The company has a fifty day moving average price of $15.67 and a 200 day moving average price of $14.96.

Arteris (NASDAQ:AIP) last posted its earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to the consensus estimate of $18.55 million. As a group, sell-side analysts predict that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Arteris

Several large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Arteris during the second quarter worth $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 valued at $61,000 after acquiring an additional 2,595 shares during the last quarter. Strs Ohio acquired a new stake in Arteris during the 1st quarter worth about $104,000. Penn Capital Management Company LLC acquired a new stake in Arteris during the 3rd quarter worth about $109,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Arteris in the 3rd quarter worth about $113,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AIP has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.17.

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.