Insider Selling: Arteris (NASDAQ:AIP) VP Sells $89,886.72 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,648 shares of Arteris stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $24.64, for a total value of $89,886.72. Following the completion of the sale, the vice president directly owned 67,085 shares of the company’s stock, valued at $1,652,974.40. The trade was a 5.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Down 3.0%

Arteris stock opened at $23.40 on Thursday. Arteris, Inc. has a one year low of $12.06 and a one year high of $50.26. The stock has a fifty day moving average of $24.57 and a 200 day moving average of $28.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $1.15 billion, a PE ratio of -26.90 and a beta of 1.90.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Rosenblatt Securities reissued a “buy” rating and set a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Oppenheimer initiated coverage on Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Craig Hallum began coverage on Arteris in a report on Monday, September 21st. They issued a “buy” rating and a $30.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Arteris presently has a consensus rating of “Moderate Buy” and an average price target of $39.43.

Arteris News Roundup

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris secured an additional $3.3 million through the Trusted and Assured Microelectronics program to expand its third-party semiconductor IP security-assurance initiative with BAE Systems and SiFive. The program could strengthen Arteris’ position in secure chip design, government projects and advanced semiconductor supply chains. Arteris funding announcement
• Positive Sentiment: Oppenheimer maintained its Buy rating on Arteris, providing continued support from Wall Street despite recent selling pressure. Oppenheimer rating report
• Neutral Sentiment: CEO K. Charles Janac, COO Laurent Moll and VP Paul Alpern reported multiple sales of vested shares. Several transactions were made to cover tax-withholding obligations, making them a weaker signal of declining management confidence; however, the repeated executive selling may still weigh on short-term sentiment. Arteris insider trading report
• Negative Sentiment: Bayview Legacy LLC sold 100,000 shares for roughly $2.38 million. Because the filing did not identify tax withholding as the reason, the sale may raise concerns about additional stock supply and investor conviction. Bayview Legacy share sale
• Negative Sentiment: Arteris’ latest reported quarter included an adjusted loss of $0.10 per share, worse than the expected $0.04 loss. Although revenue exceeded forecasts, the company remains loss-making, with analysts expecting a full-year loss.

Institutional Investors Weigh In On Arteris

A number of institutional investors have recently bought and sold shares of AIP. BlackRock Inc. bought a new stake in Arteris during the 2nd quarter valued at approximately $160,129,000. Needham Investment Management LLC boosted its stake in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares during the period. Wellington Management Group LLP boosted its stake in Arteris by 0.4% in the 2nd quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock worth $24,305,000 after purchasing an additional 1,897 shares during the period. Granahan Investment Management LLC grew its holdings in Arteris by 201.0% during the 1st 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 purchased a new stake in Arteris during the 2nd quarter valued at approximately $11,602,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.