Arteris (NASDAQ:AIP) VP Paul Alpern Sells 4,318 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,318 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.89, for a total transaction of $72,931.02. Following the completion of the sale, the vice president owned 57,650 shares of the company’s stock, valued at $973,708.50. The trade was a 6.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arteris Trading Down 0.9%

Shares of NASDAQ:AIP opened at $17.42 on Thursday. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85. The stock has a market capitalization of $760.91 million, a P/E ratio of -20.99 and a beta of 1.48. The business has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $12.05.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, equities analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

AIP has been the subject of a number of recent analyst reports. TD Cowen upped their price objective on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Arteris in a report on Monday, December 15th. Finally, Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Arteris during the second quarter worth $32,000. BNP Paribas Financial Markets raised its holdings in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Savant Capital LLC bought a new stake in shares of Arteris in the 2nd quarter valued at about $97,000. Kapitalo Investimentos Ltda acquired a new stake in Arteris in the 2nd quarter valued at about $104,000. Finally, Strs Ohio bought a new position in Arteris during the first quarter worth about $104,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.