Arteris (NASDAQ:AIP) CFO Sells $113,250.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 3,000 shares of Arteris stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $37.75, for a total transaction of $113,250.00. Following the completion of the sale, the chief financial officer directly owned 108,549 shares in the company, valued at approximately $4,097,724.75. The trade was a 2.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arteris Stock Down 2.6%

Shares of NASDAQ:AIP opened at $35.95 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -45.51 and a beta of 1.93. The firm’s 50-day simple moving average is $25.66 and its 200-day simple moving average is $19.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a fifty-two week low of $7.53 and a fifty-two week high of $38.47.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AIP shares. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Rosenblatt Securities lifted their target price on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen raised their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Northland Securities set a $38.00 price objective on shares of Arteris in a research note on Wednesday, May 13th. Two equities research 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 currently has an average rating of “Hold” and a consensus target price of $37.75.

Hedge Funds Weigh In On Arteris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIP. AQR Capital Management LLC acquired a new position in Arteris during the first quarter worth about $1,621,000. Strs Ohio acquired a new position in Arteris during the first quarter worth about $104,000. Geode Capital Management LLC raised its position in Arteris by 4.8% during the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after acquiring an additional 30,018 shares during the last quarter. Rhumbline Advisers raised its position in Arteris by 35.8% during the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock worth $519,000 after acquiring an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Arteris by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock worth $3,053,000 after acquiring an additional 25,448 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

About Arteris

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.