Paul Alpern Sells 12,502 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 12,502 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $36.02, for a total value of $450,322.04. Following the transaction, the vice president directly owned 80,384 shares in the company, valued at approximately $2,895,431.68. This represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arteris Trading Down 0.7%

NASDAQ:AIP opened at $37.19 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $27.36 and its two-hundred day moving average is $19.79. Arteris, Inc. has a 52 week low of $7.56 and a 52 week high of $38.99. The company has a market cap of $1.72 billion, a PE ratio of -47.08 and a beta of 1.98.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share 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 analyst estimates of $21.03 million. On average, analysts predict that Arteris, Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AIP shares. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Northland Securities set a $38.00 price target on Arteris 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 company a “hold” rating in a research note on Wednesday, May 13th. Finally, TD Cowen increased their price target on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arteris has a consensus rating of “Hold” and an average target price of $37.75.

Hedge Funds Weigh In On Arteris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westerly Capital Management LLC boosted its stake in shares of Arteris by 109.6% during 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 raised its position in shares of Arteris by 872.3% during the fourth quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after purchasing an additional 661,454 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the period. Granahan Investment Management LLC raised its position in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after purchasing an additional 546,341 shares during the period. Finally, Informed Momentum Co LLC acquired a new stake in shares of Arteris during the fourth quarter worth $5,755,000. 64.36% of the stock is owned by institutional investors.

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.