Arteris (NASDAQ:AIP) Shares Down 6.1% – What’s Next?

Arteris, Inc. (NASDAQ:AIP)’s share price was down 6.1% during mid-day trading on Tuesday . The company traded as low as $20.50 and last traded at $20.5450. 128,448 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 728,931 shares. The stock had previously closed at $21.88.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AIP shares. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $50.00 in a research report on Friday, August 7th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Roth Capital assumed coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price on the stock. Oppenheimer began coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Northland Securities set a $38.00 price target on shares of Arteris in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Arteris Stock Down 5.1%

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.02 billion, a P/E ratio of -23.90 and a beta of 1.96. The stock’s 50-day moving average is $31.49 and its 200-day moving average is $27.32.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The company had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. As a group, research analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Bayview Legacy, Llc sold 26,106 shares of Arteris stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the sale, the insider owned 8,329,071 shares of the company’s stock, valued at approximately $266,280,399.87. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO K Charles Janac sold 26,106 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the completion of the sale, the chief executive officer owned 8,329,071 shares in the company, valued at $266,280,399.87. This represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,164,543 shares of company stock worth $40,599,977. 23.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arteris

Institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC grew its stake in shares of Arteris by 2.6% in 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. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Arteris during the 4th quarter worth about $1,914,000. Sei Investments Co. boosted its stake in shares of Arteris by 43.1% during the first quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after acquiring an additional 51,279 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Arteris in the 1st quarter worth about $2,124,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Arteris during the 2nd quarter worth about $7,381,000. Hedge funds and other 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.