Insider Selling: Arteris (NASDAQ:AIP) COO Sells 17,200 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 17,200 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $16.97, for a total value of $291,884.00. Following the sale, the chief operating officer owned 293,096 shares of the company’s stock, valued at $4,973,839.12. This trade represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Arteris Stock Up 5.6%

Shares of NASDAQ AIP traded up $1.01 during trading hours on Tuesday, hitting $19.19. 1,112,895 shares of the stock were exchanged, compared to its average volume of 590,407. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.30. The firm has a fifty day moving average price of $13.75 and a 200-day moving average price of $10.77. The company has a market cap of $838.22 million, a PE ratio of -23.12 and a beta of 1.48.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.25%.The firm had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, equities analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Arteris during the 2nd quarter worth about $32,000. BNP Paribas Financial Markets boosted its stake in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of Arteris in the second quarter worth about $97,000. Kapitalo Investimentos Ltda acquired a new stake in Arteris during the second quarter worth about $104,000. Finally, Strs Ohio purchased a new position in Arteris during the first quarter valued at approximately $104,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIP. 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 report on Wednesday, November 5th. Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Rosenblatt Securities boosted their price objective on shares of Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Four investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.