Laurent Moll Sells 5,602 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 5,602 shares of Arteris stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total value of $98,875.30. Following the transaction, the chief operating officer owned 282,524 shares of the company’s stock, valued at $4,986,548.60. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Up 0.2%

Shares of NASDAQ AIP traded up $0.04 during trading on Monday, reaching $18.24. The company had a trading volume of 370,155 shares, compared to its average volume of 447,221. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85. The business’s 50-day moving average is $15.67 and its 200 day moving average is $14.96.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results 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 company had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. As a group, equities analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AIP shares. Northland Securities set a $24.00 target price on shares of Arteris in a research note on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arteris currently has an average rating of “Hold” and an average price target of $20.17.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its holdings in Arteris by 28.0% during the fourth quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock valued at $271,000 after buying an additional 3,830 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Arteris during the 4th quarter worth $162,000. VestGen Advisors LLC purchased a new position in shares of Arteris during the 4th quarter worth $218,000. Tudor Investment Corp ET AL bought a new stake in shares of Arteris during the 4th quarter valued at $2,473,000. Finally, Numerai GP LLC bought a new stake in shares of Arteris during the 4th quarter valued at $390,000. 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.