Arteris (NASDAQ:AIP) Shares Gap Down – Should You Sell?

Arteris, Inc. (NASDAQ:AIP) gapped down prior to trading on Friday . The stock had previously closed at $19.67, but opened at $18.84. Arteris shares last traded at $17.4310, with a volume of 272,036 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AIP. Rosenblatt Securities boosted their price target on Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. TD Cowen raised their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Finally, Jefferies Financial Group raised shares of Arteris to a “hold” rating in a research report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Arteris has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Arteris Stock Performance

The stock has a market cap of $711.55 million, a P/E ratio of -19.63 and a beta of 1.49. The firm has a 50-day moving average price of $14.39 and a 200-day moving average price of $11.07.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.00 million. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.25%. On average, research analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Arteris

In other Arteris news, COO Laurent R. Moll sold 17,937 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $17.92, for a total value of $321,431.04. Following the sale, the chief operating officer owned 257,222 shares in the company, valued at approximately $4,609,418.24. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00. Following the transaction, the insider directly owned 9,469,071 shares of the company’s stock, valued at $167,697,247.41. This represents a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 830,825 shares of company stock worth $12,365,575. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC purchased a new stake in shares of Arteris in the third quarter worth $109,000. Worth Venture Partners LLC raised its position in shares of Arteris by 24.2% in the 3rd quarter. Worth Venture Partners LLC now owns 58,731 shares of the company’s stock worth $593,000 after purchasing an additional 11,446 shares during the last quarter. Westerly Capital Management LLC boosted its stake 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 purchasing an additional 745,000 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Arteris during the 3rd quarter valued at about $113,000. Finally, Public Employees Retirement System of Ohio increased its stake in Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after purchasing an additional 2,613 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.