Arteris (NASDAQ:AIP) COO Laurent Moll Sells 9,219 Shares

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 9,219 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $20.85, for a total value of $192,216.15. Following the completion of the sale, the chief operating officer owned 212,478 shares in the company, valued at $4,430,166.30. This represents a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Arteris Trading Down 1.0%

Arteris stock traded down $0.20 during midday trading on Tuesday, reaching $20.41. 557,821 shares of the stock traded hands, compared to its average volume of 729,086. The firm has a market cap of $1.00 billion, a PE ratio of -23.46 and a beta of 1.91. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $27.54 and a two-hundred day simple moving average of $27.81. Arteris, Inc. has a 12-month low of $8.75 and a 12-month high of $50.26.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AIP. Roth Capital initiated coverage on Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective on the stock. Oppenheimer initiated coverage on Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 price target on shares of Arteris in a research report on Friday, August 7th. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Arteris during the 2nd quarter worth $160,129,000. Needham Investment Management LLC increased its holdings in Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Wellington Management Group LLP increased its holdings in Arteris by 0.4% in the second quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock valued at $24,305,000 after buying an additional 1,897 shares during the last quarter. Granahan Investment Management LLC raised its stake in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after buying an additional 476,181 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Arteris in the second quarter valued at $11,602,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company’s product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.