Arteris (NASDAQ:AIP) CFO Nicholas Hawkins Sells 3,000 Shares

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 3,000 shares of Arteris stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $37.75, for a total transaction of $113,250.00. Following the completion of the transaction, the chief financial officer directly owned 108,549 shares of the company’s stock, valued at $4,097,724.75. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Arteris Stock Down 0.1%

Shares of Arteris stock opened at $36.92 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $1.70 billion, a PE ratio of -46.73 and a beta of 1.93. Arteris, Inc. has a 52-week low of $7.53 and a 52-week high of $38.47. The company has a 50-day simple moving average of $25.25 and a two-hundred day simple moving average of $19.00.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AIP. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. 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 report on Wednesday, May 13th. 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 report on Wednesday, May 13th. Finally, Jefferies Financial Group lifted their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arteris presently has a consensus rating of “Hold” and a consensus target price of $37.75.

Institutional Trading of Arteris

A number of large investors have recently made changes to their positions in AIP. Roubaix Capital LLC bought a new stake in Arteris during the third quarter valued at approximately $2,361,000. Huntleigh Advisors Inc. bought a new stake in Arteris during the fourth quarter valued at approximately $1,832,000. Granahan Investment Management LLC grew its position in Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after buying an additional 546,341 shares during the period. Herald Investment Management Ltd grew its position in Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock valued at $4,036,000 after buying an additional 100,000 shares during the period. Finally, GSA Capital Partners LLP grew its position in Arteris by 59.3% during the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company’s stock valued at $1,334,000 after buying an additional 49,153 shares during the period. 64.36% of the stock is currently owned by 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.