Arteris (NASDAQ:AIP) VP Sells $40,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 2,500 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the vice president directly owned 61,968 shares in the company, valued at $991,488. This trade represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Arteris Trading Up 3.6%

AIP stock opened at $17.23 on Friday. The firm has a market cap of $752.61 million, a PE ratio of -20.76 and a beta of 1.48. The stock has a 50-day moving average price of $15.41 and a 200-day moving average price of $12.14. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85.

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

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in Arteris by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after acquiring an additional 4,214 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after purchasing an additional 120,947 shares during the last quarter. Westerly Capital Management LLC lifted its position in shares of Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Arteris by 9.6% during the second quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock worth $9,403,000 after purchasing an additional 86,288 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Arteris by 4.8% during the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after purchasing an additional 30,018 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on AIP shares. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. TD Cowen boosted their price target on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Arteris in a report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

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.