Arteris (NASDAQ:AIP) VP Sells 4,000 Shares

Key Points

• Arteris VP Paul Alpern sold 4,000 shares at an average price of $30.04, totaling $120,160. The sale reduced his position by 5.35% to 70,733 shares.
• Arteris shares fell to $30.93, well below their 50-day moving average of $36.29 but above the 200-day average of $25.97. The stock has traded between $8.42 and $50.26 over the past year.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $38.50. The company also beat quarterly revenue and adjusted EPS expectations, reporting $22.94 million in revenue and an EPS loss of $0.03.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 4,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.04, for a total transaction of $120,160.00. Following the transaction, the vice president owned 70,733 shares of the company's stock, valued at approximately $2,124,819.32. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Arteris Price Performance

Shares of AIP traded down $1.16 during mid-day trading on Wednesday, hitting $30.93. The company's stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. 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 firm has a 50-day moving average price of $36.29 and a 200 day moving average price of $25.97. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96.

Arteris (NASDAQ:AIP - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, research analysts predict that Arteris, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Walleye Trading LLC purchased a new stake in Arteris in the 2nd quarter worth approximately $1,347,000. Versant Capital Management Inc grew its holdings in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company's stock valued at $56,000 after acquiring an additional 290 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Arteris by 10.4% in the first quarter. Janus Henderson Group PLC now owns 106,921 shares of the company's stock worth $1,758,000 after acquiring an additional 10,062 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock worth $66,000 after acquiring an additional 3,161 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Arteris by 21.5% in the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company's stock worth $297,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIP. Roth Capital initiated coverage on Arteris in a research note on Tuesday. They set a "buy" rating and a $40.00 price objective for the company. Wall Street Zen lowered Arteris from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Oppenheimer assumed coverage on Arteris in a report on Thursday, July 16th. They set an "outperform" rating and a $40.00 target price for the company. TD Cowen increased their price target on Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on shares of Arteris in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arteris has a consensus rating of "Moderate Buy" and an average target price of $38.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source