Insider Selling: Arteris (NASDAQ:AIP) COO Sells $217,129.22 in Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 5,599 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total value of $217,129.22. Following the sale, the chief operating officer directly owned 221,697 shares of the company’s stock, valued at approximately $8,597,409.66. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Down 0.7%

NASDAQ:AIP traded down $0.24 during mid-day trading on Monday, hitting $34.82. The company had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. The business has a fifty day simple moving average of $36.32 and a 200-day simple moving average of $23.54. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -44.08 and a beta of 1.92. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. Equities analysts forecast that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. bought a new stake in shares of Arteris during the 2nd quarter worth $32,000. Versant Capital Management Inc raised its position in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after purchasing an additional 3,161 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Arteris in the 1st quarter valued at $104,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AIP shares. Northland Securities set a $38.00 price objective on shares of Arteris in a report on Wednesday, May 13th. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen raised their target price on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities upped their price target on shares of Arteris from $20.00 to $38.00 and gave the stock 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.