Arteris (NASDAQ:AIP) CFO Sells $100,787.72 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 5,836 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.27, for a total value of $100,787.72. Following the completion of the transaction, the chief financial officer directly owned 82,267 shares in the company, valued at approximately $1,420,751.09. This represents a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arteris Stock Up 3.6%

Shares of AIP stock opened at $17.23 on Friday. The business has a 50-day moving average price of $15.41 and a two-hundred day moving average price of $12.17. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85. The firm has a market cap of $752.61 million, a P/E ratio of -20.76 and a beta of 1.48.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, research analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Trading of Arteris

Large investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new position in Arteris during the 1st quarter valued at approximately $1,621,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Arteris by 48.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 249,517 shares of the company’s stock valued at $1,724,000 after buying an additional 81,516 shares during the period. Acadian Asset Management LLC increased its stake in shares of Arteris by 40.6% during the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after buying an additional 260,277 shares during the period. Strs Ohio bought a new position in shares of Arteris during the first quarter valued at approximately $104,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Arteris in the second quarter worth $104,000. 64.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AIP has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. TD Cowen raised their price objective on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Arteris in a report on Monday, December 15th. Finally, Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.50.

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.