Arteris (NASDAQ:AIP) COO Sells $1,706,194.15 in Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 39,541 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $43.15, for a total value of $1,706,194.15. Following the completion of the transaction, the chief operating officer owned 227,296 shares of the company’s stock, valued at approximately $9,807,822.40. This represents a 14.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arteris Stock Performance

Shares of AIP stock opened at $44.11 on Friday. The company has a fifty day moving average price of $32.12 and a two-hundred day moving average price of $21.73. Arteris, Inc. has a one year low of $8.10 and a one year high of $44.94. The stock has a market cap of $2.04 billion, a P/E ratio of -55.84 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. As a group, equities analysts predict that Arteris, Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on AIP. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group upped their target price on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. TD Cowen increased their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Rosenblatt Securities raised their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Two research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.75.

Hedge Funds Weigh In On Arteris

Institutional investors and hedge funds have recently bought and sold shares of the company. Westerly Capital Management LLC raised its stake in shares of Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after acquiring an additional 745,000 shares during the last quarter. Nuveen LLC lifted its holdings in shares of Arteris by 872.3% during the fourth quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after purchasing an additional 661,454 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of Arteris by 725.7% in the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after purchasing an additional 546,341 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new stake in Arteris in the fourth quarter valued at $5,755,000. Institutional investors and hedge funds 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.