Laurent Moll Sells 1,003 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 1,003 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $19.90, for a total transaction of $19,959.70. Following the sale, the chief operating officer owned 278,979 shares of the company’s stock, valued at approximately $5,551,682.10. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Arteris Stock Up 1.8%

AIP traded up $0.35 during mid-day trading on Tuesday, reaching $20.17. 545,587 shares of the company traded hands, compared to its average volume of 473,921. The stock has a market capitalization of $917.13 million, a P/E ratio of -24.60 and a beta of 1.43. The company’s fifty day moving average price is $16.03 and its 200-day moving average price is $15.28. Arteris, Inc. has a 52-week low of $5.64 and a 52-week high of $20.40.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. As a group, sell-side analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently modified their holdings of the business. Needham Investment Management LLC grew its position in shares of Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after acquiring an additional 86,500 shares during the period. Franklin Resources Inc. boosted its holdings in Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after buying an additional 101,646 shares during the period. Vanguard Group Inc. boosted its holdings in Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after buying an additional 120,947 shares during the period. Westerly Capital Management LLC boosted its holdings in Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after buying an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after buying an additional 598,840 shares during the period. Institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

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.