Insider Selling: Arteris (NASDAQ:AIP) VP Sells 3,649 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,649 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $17.65, for a total transaction of $64,404.85. Following the completion of the sale, the vice president owned 86,386 shares of the company’s stock, valued at $1,524,712.90. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Up 0.2%

NASDAQ:AIP traded up $0.04 during mid-day trading on Monday, hitting $18.24. 370,155 shares of the stock traded hands, compared to its average volume of 477,268. The stock has a market capitalization of $829.37 million, a price-to-earnings ratio of -22.24 and a beta of 1.43. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85. The firm’s 50 day moving average is $15.62 and its two-hundred day moving average is $14.90.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to the consensus estimate of $18.55 million. As a group, research analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

AIP has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Northland Securities set a $24.00 target price on Arteris in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arteris has an average rating of “Hold” and a consensus target price of $20.17.

Institutional Trading of Arteris

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Arteris in the second quarter worth approximately $32,000. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares during the period. New York State Common Retirement Fund grew its position in shares of Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after buying an additional 7,400 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Arteris during the 4th quarter worth $162,000. Finally, Penn Capital Management Company LLC purchased a new position in shares of Arteris during the third quarter valued at $109,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.