Nicholas Hawkins Sells 10,431 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 10,431 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $28.26, for a total value of $294,780.06. Following the sale, the chief financial officer directly owned 95,666 shares in the company, valued at $2,703,521.16. The trade was a 9.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Arteris Trading Up 2.6%

NASDAQ:AIP traded up $0.73 on Friday, reaching $28.32. The company’s stock had a trading volume of 426,056 shares, compared to its average volume of 734,478. Arteris, Inc. has a 1-year low of $8.42 and a 1-year high of $50.26. The business’s 50-day moving average price is $35.18 and its two-hundred day moving average price is $26.55. The firm has a market cap of $1.39 billion, a PE ratio of -32.55 and a beta of 1.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. Equities research analysts anticipate that Arteris, Inc. will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently bought and sold shares of AIP. AQR Capital Management LLC bought a new stake in Arteris in the 1st quarter valued at approximately $1,621,000. Strs Ohio acquired a new position in Arteris during the first quarter worth $104,000. Geode Capital Management LLC grew 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 purchasing an additional 30,018 shares in the last quarter. Rhumbline Advisers grew 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 purchasing an additional 14,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Arteris by 8.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after buying an additional 25,448 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

AIP has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Roth Capital initiated coverage on shares of Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective for the company. Northland Securities set a $38.00 price objective on shares of Arteris in a report on Wednesday, May 13th. TD Cowen boosted 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, Oppenheimer initiated coverage on shares of Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arteris has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.