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 company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total transaction of $217,129.22. Following the transaction, the chief operating officer owned 221,697 shares of the company’s stock, valued at $8,597,409.66. This represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Up 10.0%

Shares of NASDAQ:AIP opened at $34.46 on Thursday. The company has a market cap of $1.59 billion, a PE ratio of -43.62 and a beta of 1.92. The company’s 50-day moving average price is $36.78 and its 200 day moving average price is $23.92. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. Sell-side analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current year.

Trending Headlines about Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris announced a collaboration with IC-Link by imec to accelerate next-generation AI and high-performance computing silicon, which could support future design wins and reinforce demand for its semiconductor IP in fast-growing end markets. Article Title
• Neutral Sentiment: The company continues to benefit from a generally constructive analyst backdrop after its last earnings report beat expectations on both EPS and revenue, which may be helping investor confidence in the stock’s outlook.
• Negative Sentiment: Several insiders, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC, sold shares this week. While insider selling does not necessarily signal a business problem, the timing can pressure sentiment because it may suggest executives and owners view the recent share price strength as a good opportunity to take profits.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIP shares. Jefferies Financial Group lifted their price objective on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” 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. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Northland Securities set a $38.00 price objective on shares of Arteris in a report on Wednesday, May 13th. Finally, Rosenblatt Securities raised their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arteris currently has a consensus rating of “Hold” and an average price target of $37.75.

Institutional Investors Weigh In On Arteris

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Arteris in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its stake in Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Arteris by 75.0% during 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 in the last quarter. Royal Bank of Canada boosted its holdings in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after buying an additional 3,161 shares in the last quarter. Finally, Strs Ohio acquired a new position in Arteris in the first quarter worth approximately $104,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.