Nicholas Hawkins Sells 3,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 3,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $37.75, for a total value of $113,250.00. Following the sale, the chief financial officer directly owned 108,549 shares in the company, valued at approximately $4,097,724.75. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Arteris Stock Performance

AIP opened at $35.95 on Friday. The firm has a market cap of $1.66 billion, a P/E ratio of -45.51 and a beta of 1.93. Arteris, Inc. has a 52-week low of $7.53 and a 52-week high of $38.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The business’s fifty day moving average is $25.66 and its 200-day moving average is $19.12.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. Sell-side analysts expect that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of Arteris

Several large investors have recently bought and sold shares of AIP. AQR Capital Management LLC acquired a new stake in Arteris in the first quarter valued at about $1,621,000. Strs Ohio acquired a new stake in Arteris in the first quarter valued at about $104,000. Geode Capital Management LLC boosted its stake in Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after buying an additional 30,018 shares in the last quarter. Rhumbline Advisers boosted its stake in Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after buying an additional 14,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Arteris by 8.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after buying an additional 25,448 shares in the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. TD Cowen increased their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group raised their price objective on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Rosenblatt Securities raised their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.75.

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.