Paul Alpern Sells 6,003 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 6,003 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $35.91, for a total transaction of $215,567.73. Following the completion of the transaction, the vice president owned 70,733 shares of the company’s stock, valued at approximately $2,540,022.03. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arteris Stock Up 4.8%

Shares of AIP stock opened at $36.11 on Friday. Arteris, Inc. has a one year low of $8.42 and a one year high of $50.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -45.71 and a beta of 1.92. The company’s fifty day moving average price is $36.99 and its 200-day moving average price is $24.06.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. Sell-side analysts expect that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Arteris

Several institutional investors have recently bought and sold shares of the business. Huntleigh Advisors Inc. purchased a new stake in shares of Arteris during the 4th quarter valued at about $1,832,000. Nano Cap New Millennium Growth Fund L P purchased a new position in Arteris in the fourth quarter worth about $1,914,000. Granahan Investment Management LLC grew its position in Arteris by 725.7% in the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after acquiring an additional 546,341 shares in the last quarter. Needham Investment Management LLC increased its stake in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after acquiring an additional 86,500 shares during the last quarter. Finally, Wesbanco Bank Inc. purchased a new stake in Arteris during the first quarter valued at approximately $559,000. Institutional investors own 64.36% of the company’s stock.

Key Stories Impacting Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris announced a collaboration with IC-Link by imec to accelerate next-generation AI and high-performance computing silicon, a partnership that could support future design wins and strengthen demand for its semiconductor IP in growth markets. Article Title
• Neutral Sentiment: Investor sentiment remains supported by Arteris’ recent earnings beat, with the company topping analyst expectations on both EPS and revenue in its last quarterly report, which may be helping confidence in the outlook.
• Negative Sentiment: Several insiders sold shares this week, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC. While insider sales do not necessarily indicate operational weakness, they can weigh on the stock because investors may view them as profit-taking after recent share-price strength.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AIP shares. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Rosenblatt Securities boosted their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Jefferies Financial Group raised their target price on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.75.

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.