Arteris (NASDAQ:AIP) VP Sells 6,003 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 6,003 shares of Arteris stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $35.91, for a total value of $215,567.73. Following the transaction, the vice president owned 70,733 shares of the company’s stock, valued at $2,540,022.03. The trade was a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Arteris Stock Performance

NASDAQ:AIP traded up $3.14 on Wednesday, hitting $34.46. The company’s stock had a trading volume of 1,084,650 shares, compared to its average volume of 755,391. Arteris, Inc. has a one year low of $8.42 and a one year high of $50.26. The firm has a market capitalization of $1.59 billion, a P/E ratio of -43.62 and a beta of 1.92. The stock has a fifty day moving average of $36.62 and a two-hundred day moving average of $23.79. 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 (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. Research analysts predict that Arteris, Inc. will post -0.54 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently bought and sold shares of AIP. Versant Capital Management Inc raised its stake in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Arteris by 9.3% in the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after purchasing an additional 1,148 shares during the period. Deutsche Bank AG grew its position in shares of Arteris by 7.7% during the 4th quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock worth $328,000 after purchasing an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Arteris by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after purchasing an additional 2,613 shares during the period. 64.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.