Insider Selling: Arteris (NASDAQ:AIP) VP Sells $141,469.44 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,648 shares of Arteris stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total transaction of $141,469.44. Following the completion of the sale, the vice president owned 76,736 shares of the company’s stock, valued at $2,975,822.08. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Up 10.0%

NASDAQ:AIP opened at $34.46 on Thursday. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The stock’s fifty day moving average is $36.78 and its two-hundred day moving average is $23.92. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -43.62 and a beta of 1.92. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17.

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

Key Headlines 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, which could support future design wins and reinforce demand for its semiconductor IP in fast-growing end markets. Article Title
• Neutral Sentiment: The company continues to benefit from a generally constructive analyst backdrop after its last earnings report beat expectations on both EPS and revenue, which may be helping investor confidence in the stock’s outlook.
• Negative Sentiment: Several insiders, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC, sold shares this week. While insider selling does not necessarily signal a business problem, the timing can pressure sentiment because it may suggest executives and owners view the recent share price strength as a good opportunity to take profits.

Institutional Investors Weigh In On Arteris

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Arteris during the 2nd quarter worth about $32,000. Royal Bank of Canada boosted its position in shares of Arteris by 366.7% during the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Arteris by 352.4% in the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after acquiring an additional 7,400 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AIP. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Rosenblatt Securities upped their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 price target on Arteris in a research report on Wednesday, May 13th. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, TD Cowen boosted their price objective on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arteris currently has a consensus rating of “Hold” and a consensus price target of $37.75.

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.