Nicholas Hawkins Sells 5,836 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 5,836 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $17.27, for a total transaction of $100,787.72. Following the sale, the chief financial officer directly owned 82,267 shares in the company, valued at $1,420,751.09. The trade was a 6.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arteris Stock Performance

Shares of NASDAQ AIP opened at $17.23 on Friday. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The company has a 50 day simple moving average of $15.41 and a two-hundred day simple moving average of $12.14. The company has a market capitalization of $752.61 million, a price-to-earnings ratio of -20.76 and a beta of 1.48.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AIP shares. TD Cowen lifted their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Monday, December 15th. Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arteris has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Institutional Inflows and Outflows

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

Arteris Company Profile

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.