Arteris (NASDAQ:AIP) CFO Nicholas Hawkins Sells 10,431 Shares of Stock

Arteris, Inc. (NASDAQ:AIPGet Free Report) CFO Nicholas Hawkins sold 10,431 shares of Arteris stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $28.26, for a total value of $294,780.06. Following the sale, the chief financial officer directly owned 95,666 shares of the company’s stock, valued at $2,703,521.16. This trade represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Arteris Trading Up 2.6%

NASDAQ:AIP opened at $28.32 on Friday. The stock has a 50-day simple moving average of $35.06 and a 200-day simple moving average of $26.57. The stock has a market cap of $1.39 billion, a P/E ratio of -32.55 and a beta of 1.96. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 1.57.

Arteris (NASDAQ:AIPGet Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The business had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. As a group, analysts anticipate that Arteris, Inc. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AIP shares. Roth Capital initiated coverage on shares of Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $38.00 target price on shares of Arteris in a report on Friday, August 7th. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $50.00 in a report on Friday, August 7th. Oppenheimer initiated coverage on shares of Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, TD Cowen lifted their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Get Our Latest Stock Analysis on Arteris

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new stake in Arteris in the second quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Arteris during the second quarter worth approximately $53,000. Versant Capital Management Inc grew its position in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after acquiring an additional 290 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Arteris (NASDAQ:AIP)

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