Insider Selling: Arteris (NASDAQ:AIP) CFO Sells $294,780.06 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 10,431 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $28.26, for a total value of $294,780.06. Following the completion of the transaction, the chief financial officer directly owned 95,666 shares in the company, valued at approximately $2,703,521.16. This represents a 9.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arteris Stock Performance

Shares of NASDAQ:AIP opened at $28.32 on Monday. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26. The firm has a market cap of $1.39 billion, a PE ratio of -32.55 and a beta of 1.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The business has a fifty day moving average of $35.06 and a 200-day moving average of $26.64.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The business had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. On average, equities research analysts predict that Arteris, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AIP. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Arteris during the 2nd quarter worth approximately $53,000. Versant Capital Management Inc lifted its holdings in Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares during the period. Allworth Financial LP acquired a new position in Arteris in the second quarter valued at approximately $87,000. Raymond James Financial Inc. bought a new position in Arteris in the second quarter valued at approximately $32,000. Finally, State of Wyoming bought a new position in Arteris in the second quarter valued at approximately $165,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AIP shares. Rosenblatt Securities reiterated a “buy” rating and set a $38.00 target price on shares of Arteris in a research report on Friday, August 7th. TD Cowen raised their price target on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 price objective on shares of Arteris in a research report on Wednesday, May 13th. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Arteris in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.00.

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.