Insider Selling: Arteris (NASDAQ:AIP) Director Sells 38,500 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Wayne Cantwell sold 38,500 shares of Arteris stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $37.23, for a total transaction of $1,433,355.00. Following the completion of the sale, the director owned 189,698 shares of the company’s stock, valued at approximately $7,062,456.54. The trade was a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Arteris Price Performance

Shares of NASDAQ AIP traded down $0.97 during midday trading on Wednesday, reaching $36.94. The company’s stock had a trading volume of 912,079 shares, compared to its average volume of 1,141,085. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. Arteris, Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $38.47. The business’s 50 day moving average price is $24.82 and its two-hundred day moving average price is $18.85. The company has a market cap of $1.71 billion, a P/E ratio of -46.76 and a beta of 1.93.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share 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. On average, analysts forecast that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of Arteris

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Arteris during the 2nd quarter worth approximately $32,000. Royal Bank of Canada boosted its position in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares in the last quarter. BNP Paribas Financial Markets boosted 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 in the last quarter. New York State Common Retirement Fund boosted its position in Arteris by 352.4% in the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after buying an additional 7,400 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Arteris in the fourth quarter valued at approximately $162,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AIP shares. Jefferies Financial Group lifted 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. Northland Securities set a $38.00 price target on shares of Arteris in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Rosenblatt Securities increased their price target on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, TD Cowen increased their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arteris presently has an average rating of “Hold” and an average 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.