Insider Selling: Arteris (NASDAQ:AIP) CFO Sells $208,520.06 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 5,377 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total transaction of $208,520.06. Following the completion of the transaction, the chief financial officer owned 103,172 shares of the company’s stock, valued at approximately $4,001,010.16. The trade was a 4.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Price Performance

Shares of NASDAQ:AIP opened at $34.46 on Thursday. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26. The firm has a market capitalization of $1.59 billion, a P/E ratio of -43.62 and a beta of 1.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The company’s fifty day moving average price is $36.78 and its 200 day moving average price is $23.92.

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

Institutional Investors Weigh In On Arteris

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in Arteris in the 1st quarter valued at $1,621,000. Strs Ohio acquired a new stake in shares of Arteris in the 1st quarter worth $104,000. Geode Capital Management LLC boosted its holdings in shares of Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after acquiring an additional 30,018 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after acquiring an additional 14,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of 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 period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Trending Headlines about Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris announced a collaboration with IC-Link by imec to accelerate next-generation AI and high-performance computing silicon, which could support future design wins and reinforce demand for its semiconductor IP in fast-growing end markets. Article Title
• Neutral Sentiment: The company continues to benefit from a generally constructive analyst backdrop after its last earnings report beat expectations on both EPS and revenue, which may be helping investor confidence in the stock’s outlook.
• Negative Sentiment: Several insiders, including CEO K. Charles Janac, VP Paul L. Alpern, and major shareholder Bayview Legacy, LLC, sold shares this week. While insider selling does not necessarily signal a business problem, the timing can pressure sentiment because it may suggest executives and owners view the recent share price strength as a good opportunity to take profits.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AIP shares. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Rosenblatt Securities raised their target price 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. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a 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. Finally, Jefferies Financial Group increased their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.