Arteris (NASDAQ:AIP) VP Sells 6,500 Shares of Company Stock

Arteris, Inc. (NASDAQ:AIP – Get Free Report) VP Paul Alpern sold 6,500 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $23.84, for a total transaction of $154,960.00. Following the sale, the vice president directly owned 70,733 shares of the company’s stock, valued at $1,686,274.72. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Down 2.8%

Shares of AIP traded down $0.69 during trading hours on Monday, hitting $23.97. The stock had a trading volume of 784,618 shares, compared to its average volume of 730,172. Arteris, Inc. has a 12-month low of $12.06 and a 12-month high of $50.26. The firm has a market cap of $1.18 billion, a P/E ratio of -27.55 and a beta of 1.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company’s fifty day simple moving average is $24.86 and its 200 day simple moving average is $28.55.

Arteris (NASDAQ:AIP – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Equities research analysts forecast that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AIP shares. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and raised their price target for the company from $35.00 to $50.00 in a report on Friday, August 7th. Craig Hallum began coverage on shares of Arteris in a research report on Monday, September 21st. They issued a “buy” rating and a $30.00 price objective for the company. Roth Capital started coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, Oppenheimer assumed coverage on Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.43.

Check Out Our Latest Research Report on Arteris

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new position in Arteris in the 2nd quarter worth approximately $384,000. Spark Investment Management LLC purchased a new stake in shares of Arteris during the second quarter valued at approximately $1,074,000. Arizona State Retirement System acquired a new position in shares of Arteris during the second quarter worth $442,000. Corient Private Wealth LP acquired a new position in shares of Arteris during the second quarter worth $471,000. Finally, AXQ Capital LP purchased a new position in shares of Arteris in the second quarter valued at $661,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Company Profile

(Get Free Report)

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.

Further Reading

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

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