Nicholas Hawkins Sells 221,035 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 221,035 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $33.40, for a total value of $7,382,569.00. Following the transaction, the chief financial officer owned 110,600 shares in the company, valued at $3,694,040. This trade represents a 66.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arteris Trading Down 9.7%

NASDAQ:AIP traded down $3.63 during trading hours on Friday, reaching $33.71. 1,727,606 shares of the stock were exchanged, compared to its average volume of 996,540. The company has a quick ratio of 1.13, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $21.50 and a two-hundred day moving average of $17.58. Arteris, Inc. has a twelve month low of $6.88 and a twelve month high of $38.47. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -42.67 and a beta of 1.93.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, equities analysts predict that Arteris, Inc. will post -0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

AIP has been the topic of several analyst reports. TD Cowen increased their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Northland Securities set a $38.00 price objective on Arteris in a research note on Wednesday. Rosenblatt Securities increased their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.75.

Hedge Funds Weigh In On Arteris

Several large investors have recently bought and sold shares of the business. Needham Investment Management LLC increased its holdings in Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Franklin Resources Inc. increased its holdings in Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after buying an additional 101,646 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 buying an additional 120,947 shares during the last quarter. Westerly Capital Management LLC increased its holdings in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after buying an additional 745,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after buying an additional 598,840 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.