Arteris (NASDAQ:AIP) Trading Down 10.5% – Here’s Why

Arteris, Inc. (NASDAQ:AIP)’s share price was down 10.5% during mid-day trading on Friday . The stock traded as low as $32.14 and last traded at $33.4350. Approximately 314,810 shares were traded during trading, a decline of 46% from the average daily volume of 586,539 shares. The stock had previously closed at $37.34.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIP. Jefferies Financial Group lifted their target price on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday. TD Cowen lifted their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities lifted their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.75.

Arteris Price Performance

The company’s 50 day moving average price is $21.16 and its 200-day moving average price is $17.47. The company has a market capitalization of $1.54 billion, a PE ratio of -42.18 and a beta of 1.93. The company has a current ratio of 0.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. On average, sell-side analysts forecast that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Arteris

In other news, COO Laurent R. Moll sold 13,448 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $20.03, for a total transaction of $269,363.44. Following the completion of the sale, the chief operating officer directly owned 265,530 shares of the company’s stock, valued at $5,318,565.90. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO K Charles Janac sold 70,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00. Following the sale, the chief executive officer directly owned 9,049,071 shares of the company’s stock, valued at $282,331,015.20. This represents a 0.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 866,923 shares of company stock worth $18,543,293. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Arteris

A number of institutional investors have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new stake in Arteris during the 2nd quarter worth $32,000. BNP Paribas Financial Markets boosted its position in 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 during the period. Strs Ohio purchased a new stake in Arteris during the 1st quarter worth $104,000. Penn Capital Management Company LLC purchased a new stake in Arteris during the 3rd quarter worth $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Arteris during the 3rd quarter worth $113,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.