Arteris (NASDAQ:AIP) CFO Sells 5,377 Shares

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 5,377 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total transaction of $208,520.06. Following the transaction, the chief financial officer directly owned 103,172 shares in the company, valued at approximately $4,001,010.16. The trade was a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Price Performance

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

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. As a group, sell-side analysts predict that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased 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 acquiring an additional 290 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Arteris during the 2nd quarter worth approximately $32,000. Royal Bank of Canada lifted its position in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares in the last quarter. BNP Paribas Financial Markets grew its position in Arteris by 75.0% in 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 in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after buying an additional 7,400 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AIP shares. Northland Securities set a $38.00 price target on shares of Arteris in a report on Wednesday, May 13th. Jefferies Financial Group upped their price target on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Cowen upped their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Rosenblatt Securities lifted their target price on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arteris currently has a consensus rating of “Hold” and a consensus price target of $37.75.

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.