Arteris (NASDAQ:AIP) VP Paul Alpern Sells 4,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total transaction of $83,080.00. Following the completion of the sale, the vice president owned 70,733 shares of the company’s stock, valued at approximately $1,469,124.41. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Arteris Trading Down 0.8%

NASDAQ AIP traded down $0.16 on Thursday, hitting $20.68. 624,268 shares of the stock were exchanged, compared to its average volume of 734,831. The company’s 50-day moving average price is $30.68 and its two-hundred day moving average price is $27.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.77 and a beta of 1.91.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Research analysts predict that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Arteris during the second quarter worth about $160,129,000. California State Teachers Retirement System raised its position in shares of Arteris by 105,728.3% during the second quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock worth $87,829,000 after purchasing an additional 1,805,840 shares during the period. Westerly Capital Management LLC lifted its holdings in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares in the last quarter. Nuveen LLC lifted its holdings in shares of Arteris by 872.3% during the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock valued at $11,428,000 after purchasing an additional 661,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after purchasing an additional 598,840 shares during the period. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AIP. TD Cowen upped their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Oppenheimer began coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target on the stock. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Finally, Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.