Arteris (NASDAQ:AIP) Director Sells $1,433,355.00 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Wayne Cantwell sold 38,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $37.23, for a total transaction of $1,433,355.00. Following the completion of the sale, the director owned 189,698 shares in the company, valued at $7,062,456.54. This represents a 16.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Arteris Price Performance

Arteris stock traded down $0.97 during mid-day trading on Wednesday, reaching $36.94. The company had a trading volume of 912,079 shares, compared to its average volume of 1,141,085. Arteris, Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $38.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.71 billion, a P/E ratio of -46.76 and a beta of 1.93. The business has a fifty day simple moving average of $24.82 and a 200 day simple moving average of $18.85.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. On average, equities research analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AIP. Northland Securities set a $38.00 target price on shares of Arteris in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Jefferies Financial Group increased their price objective on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Rosenblatt Securities raised their target price on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, TD Cowen lifted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Two equities research 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 MarketBeat.com, Arteris currently has a consensus rating of “Hold” and a consensus target price of $37.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Arteris in the 2nd quarter worth approximately $32,000. Royal Bank of Canada increased its position in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after buying an additional 3,161 shares during the period. BNP Paribas Financial Markets raised its stake in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares during the last quarter. New York State Common Retirement Fund raised its stake in Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after buying an additional 7,400 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Arteris in the fourth quarter valued at $162,000. 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.