Arteris (NASDAQ:AIP) COO Sells 5,599 Shares

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 5,599 shares of Arteris stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total value of $217,129.22. Following the sale, the chief operating officer owned 221,697 shares in the company, valued at $8,597,409.66. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Performance

NASDAQ:AIP traded down $0.24 during trading hours on Monday, reaching $34.82. 1,091,305 shares of the company’s stock were exchanged, compared to its average volume of 747,970. Arteris, Inc. has a 1-year low of $8.42 and a 1-year high of $50.26. 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 firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -44.08 and a beta of 1.92. The company has a 50-day moving average of $36.32 and a 200 day moving average of $23.54.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) 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 analysts’ expectations of $21.03 million. Research analysts anticipate that Arteris, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Arteris during the 1st quarter worth approximately $1,621,000. Strs Ohio purchased a new stake in Arteris during the 1st quarter worth about $104,000. Geode Capital Management LLC raised its stake in Arteris by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after purchasing an additional 30,018 shares during the last quarter. Rhumbline Advisers raised its position in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after buying an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Arteris by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after buying an additional 25,448 shares during the period. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Ratings Changes

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

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.