Arteris (NASDAQ:AIP) COO Sells $1,706,194.15 in Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 39,541 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $43.15, for a total value of $1,706,194.15. Following the transaction, the chief operating officer owned 227,296 shares of the company’s stock, valued at approximately $9,807,822.40. The trade was a 14.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arteris Stock Performance

AIP traded up $0.58 during trading on Wednesday, reaching $42.14. 682,841 shares of the company were exchanged, compared to its average volume of 1,032,401. The stock has a market cap of $1.95 billion, a P/E ratio of -53.34 and a beta of 1.98. The firm has a 50 day moving average of $31.10 and a 200 day moving average of $21.36. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 52 week low of $8.10 and a 52 week high of $44.94.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. On average, sell-side analysts forecast that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently bought and sold shares of AIP. Westerly Capital Management LLC lifted its stake in Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares in the last quarter. Nuveen LLC lifted its stake in Arteris by 872.3% in the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after acquiring an additional 661,454 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Arteris by 144.7% in the 4th 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. Granahan Investment Management LLC lifted its stake in Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after acquiring an additional 546,341 shares in the last quarter. Finally, Informed Momentum Co LLC acquired a new position in Arteris in the 4th quarter worth about $5,755,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIP. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Rosenblatt Securities increased their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Jefferies Financial Group increased their price target on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. TD Cowen increased their price target on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.75.

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.