Insider Selling: Arteris (NASDAQ:AIP) COO Sells $192,216.15 in Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 9,219 shares of Arteris stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $20.85, for a total transaction of $192,216.15. Following the completion of the transaction, the chief operating officer directly owned 212,478 shares of the company’s stock, valued at $4,430,166.30. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Arteris Price Performance

AIP opened at $22.37 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -25.71 and a beta of 1.91. Arteris, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $50.26. The company’s 50-day moving average price is $26.77 and its 200 day moving average price is $27.90. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. As a group, sell-side analysts expect that Arteris, Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

Several large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd bought a new stake in shares of Arteris during the 2nd quarter worth about $384,000. Spark Investment Management LLC acquired a new stake in shares of Arteris in the 2nd quarter worth approximately $1,074,000. Arizona State Retirement System bought a new position in shares of Arteris in the second quarter valued at approximately $442,000. Corient Private Wealth LP bought a new position in shares of Arteris in the second quarter valued at approximately $471,000. Finally, AXQ Capital LP acquired a new position in shares of Arteris during the second quarter valued at approximately $661,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIP. Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Finally, Roth Capital began coverage on shares of Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

About Arteris

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company’s product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.