Arteris (NASDAQ:AIP) CFO Sells $100,787.72 in Stock

by · The Cerbat Gem

Arteris, Inc. (NASDAQ:AIP – Get Free Report) CFO Nicholas Hawkins sold 5,836 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $17.27, for a total value of $100,787.72. Following the completion of the sale, the chief financial officer directly owned 82,267 shares of the company’s stock, valued at approximately $1,420,751.09. This trade represents a 6.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Arteris Stock Performance

NASDAQ:AIP traded down $0.79 during trading hours on Thursday, hitting $16.63. 374,864 shares of the company’s stock traded hands, compared to its average volume of 450,242. The stock’s fifty day moving average price is $15.27 and its two-hundred day moving average price is $12.05. The firm has a market cap of $726.40 million, a P/E ratio of -20.04 and a beta of 1.48. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85.

Arteris (NASDAQ:AIP – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.00 million. On average, equities research analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of Arteris

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Arteris during the second quarter valued at about $32,000. BNP Paribas Financial Markets lifted its position in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the last quarter. Savant Capital LLC acquired a new stake in Arteris in the 2nd quarter valued at approximately $97,000. Kapitalo Investimentos Ltda acquired a new stake in Arteris in the 2nd quarter valued at approximately $104,000. Finally, Strs Ohio acquired a new position in shares of Arteris during the first quarter worth approximately $104,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. TD Cowen increased their price objective on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Four 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 company. According to MarketBeat.com, Arteris has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Read Our Latest Analysis on AIP

About Arteris

(Get Free Report)

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.

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