Arteris (NASDAQ:AIP) VP Sells $77,400.00 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 5,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $15.48, for a total value of $77,400.00. Following the transaction, the vice president owned 57,650 shares of the company’s stock, valued at approximately $892,422. This represents a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arteris Price Performance

Shares of NASDAQ:AIP traded down $0.33 during midday trading on Wednesday, reaching $14.19. 588,106 shares of the company’s stock were exchanged, compared to its average volume of 449,544. The stock has a market cap of $619.88 million, a price-to-earnings ratio of -17.10 and a beta of 1.47. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm’s 50 day simple moving average is $16.29 and its two-hundred day simple moving average is $13.03.

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

Hedge Funds Weigh In On Arteris

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Arteris in the second quarter valued at $32,000. BNP Paribas Financial Markets increased its holdings in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the period. Savant Capital LLC acquired a new stake in Arteris in the 2nd quarter valued at about $97,000. Strs Ohio acquired a new stake in Arteris in the 1st quarter valued at about $104,000. Finally, Penn Capital Management Company LLC purchased a new position in shares of Arteris in the 3rd quarter valued at about $109,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AIP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research note on Monday, December 15th. Finally, Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” 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.