Arteris (NASDAQ:AIP) VP Paul Alpern Sells 8,309 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 8,309 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $15.45, for a total transaction of $128,374.05. Following the transaction, the vice president directly owned 61,968 shares in the company, valued at approximately $957,405.60. This represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Arteris Stock Up 8.3%

Arteris stock opened at $17.58 on Wednesday. The company has a market capitalization of $767.89 million, a PE ratio of -21.18 and a beta of 1.48. The firm has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $12.01. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, equities analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC bought a new stake in shares of Arteris during the 3rd quarter valued at about $109,000. Worth Venture Partners LLC raised its stake in Arteris by 24.2% in the third quarter. Worth Venture Partners LLC now owns 58,731 shares of the company’s stock worth $593,000 after buying an additional 11,446 shares in the last quarter. Westerly Capital Management LLC lifted its holdings in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after buying an additional 745,000 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Arteris during the 3rd quarter valued at approximately $113,000. Finally, Public Employees Retirement System of Ohio boosted its position in Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after acquiring an additional 2,613 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AIP has been the subject of a number of analyst reports. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Finally, TD Cowen upped their price objective on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Four 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 data from MarketBeat, Arteris has an average rating of “Moderate Buy” and a consensus target price of $17.50.

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.