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

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 8,309 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 61,968 shares of the company’s stock, valued at approximately $957,405.60. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Arteris Stock Up 8.3%

Arteris stock traded up $1.35 during mid-day trading on Tuesday, hitting $17.58. The company’s stock had a trading volume of 675,497 shares, compared to its average volume of 505,861. The stock has a market capitalization of $767.89 million, a P/E ratio of -21.18 and a beta of 1.48. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85. The stock’s fifty day moving average price is $15.12 and its two-hundred day moving average price is $11.95.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) 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 analyst estimates of $17.00 million. Equities analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on AIP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. TD Cowen boosted their price target on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research note on Monday, December 15th. Cowen reiterated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arteris has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Acadian Asset Management LLC lifted its holdings in shares of Arteris by 40.6% during the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after buying an additional 260,277 shares during the last quarter. Acuitas Investments LLC acquired a new position in Arteris in the second quarter worth approximately $858,000. Worth Venture Partners LLC bought a new position in Arteris during the second quarter valued at approximately $451,000. Franklin Resources Inc. lifted its stake in Arteris by 9.6% in the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after acquiring an additional 142,936 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Arteris in the second quarter worth approximately $254,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.