Arteris (NASDAQ:AIP) Trading Down 9.1% – Time to Sell?

Arteris, Inc. (NASDAQ:AIP) shares were down 9.1% during trading on Monday . The stock traded as low as $20.83 and last traded at $20.6260. Approximately 207,873 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 726,715 shares. The stock had previously closed at $22.69.

Analysts Set New Price Targets

AIP has been the subject of several research analyst reports. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Roth Capital initiated coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target for the company. Oppenheimer started coverage on shares of Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $38.00 price objective on shares of Arteris in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arteris currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Arteris Trading Down 8.5%

The company has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $27.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $1.02 billion, a PE ratio of -23.87 and a beta of 1.91.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current year.

Insider Transactions at Arteris

In other Arteris news, major shareholder Bayview Legacy, Llc sold 192,686 shares of Arteris stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the sale, the insider owned 8,555,047 shares of the company’s stock, valued at $310,719,307.04. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Saiyed Raza sold 70,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.01, for a total transaction of $2,100,700.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,207,704 shares of company stock valued at $39,166,487 in the last 90 days. 23.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arteris

Institutional investors and hedge funds have recently bought and sold shares of the business. Needham Investment Management LLC lifted its stake in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Arteris in the fourth quarter valued at approximately $1,914,000. Sei Investments Co. increased its holdings in shares of Arteris by 43.1% in the first quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after purchasing an additional 51,279 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Arteris by 12,206.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,891 shares of the company’s stock valued at $7,672,000 after purchasing an additional 156,608 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Arteris during the first quarter worth approximately $2,124,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

About Arteris

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company’s product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.