Arteris (NASDAQ:AIP) VP Paul Alpern Sells 4,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.04, for a total value of $120,160.00. Following the completion of the sale, the vice president directly owned 70,733 shares of the company’s stock, valued at $2,124,819.32. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arteris Stock Performance

NASDAQ:AIP opened at $30.93 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $36.17 and its 200 day simple moving average is $26.06. The stock has a market cap of $1.43 billion, a P/E ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. As a group, research analysts predict that Arteris, Inc. will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently made changes to their positions in AIP. Walleye Trading LLC purchased a new position in shares of Arteris during the second quarter valued at approximately $1,347,000. Versant Capital Management Inc boosted its position in shares of Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Arteris by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock worth $1,758,000 after buying an additional 10,062 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after buying an additional 3,161 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Arteris by 21.5% during the 1st quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock valued at $297,000 after buying an additional 3,200 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Key Stories Impacting Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Roth Capital began coverage of Arteris with a Buy rating and a $40 price target, implying roughly 29% upside from the referenced $30.93 level. The initiation provides a new positive valuation signal for the semiconductor-design software company. Benzinga coverage
• Neutral Sentiment: The latest insider filings show that CEO K. Charles Janac and major shareholder Bayview Legacy each reported sales of 73,894 shares on August 3 at approximately $30.00 per share, followed by 26,106 shares on August 4 at approximately $31.97. Because the transactions appear in separate ownership filings, the reported figures should not necessarily be treated as entirely separate economic sales. CEO SEC filing
• Negative Sentiment: Additional insider selling included Director Saiyed Atiq Raza’s sale of 70,000 shares for about $2.1 million and Vice President Paul L. Alpern’s sale of 4,000 shares for roughly $120,000. The cluster of sales by senior executives and directors may pressure the stock by signaling that insiders are monetizing holdings, even though substantial ownership remains. Director SEC filing

Wall Street Analysts Forecast Growth

Several brokerages have commented on AIP. Roth Capital assumed coverage on shares of Arteris in a report on Tuesday. They issued a “buy” rating and a $40.00 price objective for the company. Oppenheimer assumed coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price for the company. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Jefferies Financial Group raised their target price on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.