Arteris (NASDAQ:AIP) COO Sells $28,292.96 in Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 1,552 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $18.23, for a total value of $28,292.96. Following the transaction, the chief operating officer owned 280,972 shares in the company, valued at $5,122,119.56. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Up 0.2%

Shares of Arteris stock traded up $0.04 during trading on Monday, reaching $18.24. The company’s stock had a trading volume of 370,155 shares, compared to its average volume of 447,221. The business’s 50-day moving average price is $15.67 and its 200-day moving average price is $14.96. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. As a group, sell-side analysts forecast that Arteris, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AIP shares. Northland Securities set a $24.00 price target on shares of Arteris in a research report on Friday, February 13th. Wall Street Zen raised Arteris from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in shares of Arteris during the 1st quarter valued at approximately $1,621,000. Strs Ohio bought a new position in Arteris in the 1st quarter valued at approximately $104,000. Geode Capital Management LLC boosted its position in Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after buying an additional 30,018 shares in the last quarter. Rhumbline Advisers boosted its position in Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after buying an additional 14,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Arteris by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock worth $3,053,000 after buying an additional 25,448 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.