Arteris (NASDAQ:AIP) VP Paul Alpern Sells 4,000 Shares

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 4,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total value of $83,080.00. Following the completion of the sale, the vice president directly owned 70,733 shares of the company’s stock, valued at approximately $1,469,124.41. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arteris Stock Down 0.8%

Arteris stock opened at $20.68 on Friday. The company’s 50 day simple moving average is $30.22 and its 200 day simple moving average is $27.45. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.77 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data 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). The firm had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. As a group, sell-side analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on AIP shares. Roth Capital began coverage on Arteris in a research note on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective on the stock. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Finally, TD Cowen increased their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Institutional Investors Weigh In On Arteris

Several institutional investors have recently added to or reduced their stakes in the stock. Needham Investment Management LLC grew its stake 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 worth $52,878,000 after acquiring an additional 86,500 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Arteris in the fourth quarter worth $1,914,000. Sei Investments Co. boosted its holdings in Arteris by 43.1% during the first quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock worth $2,799,000 after purchasing an additional 51,279 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Arteris during the first quarter worth $2,124,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Arteris in the second quarter valued at $7,381,000. 64.36% of the stock is owned by institutional investors.

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.