Paul Alpern Sells 6,003 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 6,003 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $35.91, for a total transaction of $215,567.73. Following the completion of the sale, the vice president directly owned 70,733 shares in the company, valued at $2,540,022.03. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arteris Stock Up 10.0%

AIP stock traded up $3.14 during trading hours on Wednesday, reaching $34.46. 1,084,650 shares of the stock were exchanged, compared to its average volume of 755,391. The firm’s 50-day moving average is $36.62 and its 200-day moving average is $23.79. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -43.62 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 (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate 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. On average, equities research analysts expect that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Arteris in the second quarter valued at $32,000. Versant Capital Management Inc increased its holdings in 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 buying an additional 290 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 acquiring an additional 2,595 shares in the last quarter. Royal Bank of Canada lifted its stake in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Arteris in the first quarter valued at $104,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Ratings Changes

AIP has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 target price on shares of Arteris in a research report on Wednesday, May 13th. Jefferies Financial Group lifted their price target 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. Rosenblatt Securities increased their price objective on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arteris has an average rating of “Hold” and an average target price 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.