Arteris (NASDAQ:AIP) VP Sells $72,931.02 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,318 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.89, for a total value of $72,931.02. Following the completion of the transaction, the vice president owned 57,650 shares in the company, valued at $973,708.50. This trade represents a 6.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arteris Price Performance

AIP opened at $17.23 on Friday. The company has a market capitalization of $752.61 million, a PE ratio of -20.76 and a beta of 1.48. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The business has a 50-day moving average of $15.41 and a 200-day moving average of $12.14.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. On average, equities research analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Arteris in the second quarter worth about $32,000. BNP Paribas Financial Markets grew its holdings in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after buying an additional 2,595 shares during the last quarter. Savant Capital LLC bought a new position in Arteris in the 2nd quarter worth approximately $97,000. Kapitalo Investimentos Ltda acquired a new position in shares of Arteris during the second quarter worth approximately $104,000. Finally, Strs Ohio acquired a new position in shares of Arteris during the first quarter worth approximately $104,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a research report on Tuesday, October 28th. Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Arteris in a research note on Monday, December 15th. Finally, TD Cowen raised their price objective on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Four 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.50.

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.