Arteris (NASDAQ:AIP) VP Paul Alpern Sells 5,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 5,000 shares of Arteris stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $15.48, for a total value of $77,400.00. Following the sale, the vice president directly owned 57,650 shares in the company, valued at approximately $892,422. The trade was a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arteris Stock Down 2.3%

AIP opened at $14.19 on Thursday. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85. The stock has a market cap of $619.82 million, a PE ratio of -17.10 and a beta of 1.47. The business has a 50 day moving average of $16.30 and a 200-day moving average of $13.03.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.00 million. Equities analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AIP. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets boosted its stake in shares of Arteris by 75.0% during the 3rd 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 during the last quarter. Savant Capital LLC purchased a new stake in Arteris in the second quarter worth about $97,000. Strs Ohio purchased a new position in shares of Arteris during the 1st quarter valued at about $104,000. Finally, Penn Capital Management Company LLC bought a new stake in Arteris during the 3rd quarter worth approximately $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AIP has been the topic of several analyst reports. TD Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Arteris in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

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.