Arteris (NASDAQ:AIP) VP Paul Alpern Sells 3,648 Shares of Stock

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

Arteris Stock Performance

AIP opened at $32.44 on Tuesday. The firm has a market capitalization of $1.50 billion, a PE ratio of -42.16 and a beta of 1.92. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26. The firm’s 50-day moving average price is $36.53 and its 200 day moving average price is $23.67. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. As a group, sell-side analysts expect that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIP. Northland Securities set a $38.00 price objective on Arteris in a research note on Wednesday, May 13th. TD Cowen raised 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. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Jefferies Financial Group boosted their price target on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Finally, Rosenblatt Securities upped their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.75.

Hedge Funds Weigh In On Arteris

Several large investors have recently modified their holdings of AIP. Versant Capital Management Inc increased its position in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the last quarter. Intech Investment Management LLC raised its holdings in Arteris by 9.3% in the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after buying an additional 1,148 shares during the period. Deutsche Bank AG lifted its position in Arteris by 7.7% in the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after buying an additional 1,504 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after buying an additional 2,595 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Arteris by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after buying an additional 2,613 shares during the period. 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.