Insider Selling: Arteris (NASDAQ:AIP) COO Sells 13,448 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 13,448 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $20.03, for a total transaction of $269,363.44. Following the completion of the transaction, the chief operating officer owned 265,530 shares of the company’s stock, valued at approximately $5,318,565.90. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Arteris Stock Performance

Shares of NASDAQ:AIP traded up $1.22 during trading on Thursday, hitting $21.52. The company’s stock had a trading volume of 771,783 shares, compared to its average volume of 477,918. The business has a 50 day moving average price of $16.26 and a two-hundred day moving average price of $15.39. The company has a market capitalization of $978.45 million, a PE ratio of -26.24 and a beta of 1.43. Arteris, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $21.57.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. As a group, equities analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AIP has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.17.

Institutional Investors Weigh In On Arteris

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Needham Investment Management LLC raised its holdings in shares of Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Franklin Resources Inc. raised its holdings in Arteris by 6.2% during the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after purchasing an additional 101,646 shares in the last quarter. Vanguard Group Inc. raised its holdings in Arteris by 8.2% during the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after purchasing an additional 120,947 shares in the last quarter. Westerly Capital Management LLC raised its holdings in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Arteris by 144.7% during 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 in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.