Insider Selling: Arteris, Inc. (NASDAQ:AIP) CFO Sells 3,888 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins sold 3,888 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total value of $27,682.56. Following the completion of the sale, the chief financial officer now owns 181,545 shares of the company’s stock, valued at approximately $1,292,600.40. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Arteris Trading Down 9.2 %

NASDAQ:AIP opened at $5.99 on Monday. The stock has a market cap of $245.28 million, a price-to-earnings ratio of -6.88 and a beta of 1.31. Arteris, Inc. has a one year low of $5.76 and a one year high of $12.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50-day simple moving average is $8.70 and its 200 day simple moving average is $8.81.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Arteris had a negative net margin of 58.27% and a negative return on equity of 828.71%. The business had revenue of $15.49 million during the quarter, compared to analyst estimates of $15.34 million. As a group, sell-side analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of Arteris by 29.0% in the 4th quarter. US Bancorp DE now owns 5,702 shares of the company’s stock valued at $58,000 after purchasing an additional 1,283 shares in the last quarter. American Century Companies Inc. raised its stake in Arteris by 6.0% during the fourth quarter. American Century Companies Inc. now owns 30,357 shares of the company’s stock valued at $309,000 after buying an additional 1,731 shares in the last quarter. EntryPoint Capital LLC raised its stake in Arteris by 14.0% during the fourth quarter. EntryPoint Capital LLC now owns 19,814 shares of the company’s stock valued at $202,000 after buying an additional 2,430 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Arteris by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company’s stock worth $802,000 after acquiring an additional 3,298 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Arteris by 38.9% in the 4th quarter. Wells Fargo & Company MN now owns 13,192 shares of the company’s stock worth $134,000 after acquiring an additional 3,694 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AIP. Northland Securities raised their target price on Arteris from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research report on Tuesday, February 18th.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.