Insider Selling: Arteris (NASDAQ:AIP) CFO Sells 4,870 Shares of Stock

Key Points

• Arteris CFO Nicholas Hawkins sold 4,870 shares on April 2 at an average price of $17.65, generating about $85,955.50, and the filing says the sale was to cover tax withholding on vested equity awards.
• After the sale Hawkins still directly owns 118,614 shares, a roughly 3.94% reduction in his position valued at about $2.09 million.
• Arteris shares traded at $18.24 (up 0.2%) with a 12‑month range of $5.46–$19.85; the company recently beat quarterly EPS and revenue estimates, while analysts’ consensus is a Hold with an average price target of $20.17.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CFO Nicholas Hawkins sold 4,870 shares of the firm's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $17.65, for a total value of $85,955.50. Following the transaction, the chief financial officer directly owned 118,614 shares in the company, valued at approximately $2,093,537.10. This represents a 3.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Up 0.2%

AIP traded up $0.04 on Monday, hitting $18.24. 370,155 shares of the company traded hands, compared to its average volume of 447,221. The company has a 50 day moving average of $15.67 and a 200-day moving average of $14.96. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85.

Arteris (NASDAQ:AIP - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analysts' expectations of $18.55 million. As a group, research analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arteris in a research note on Wednesday, January 21st. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Finally, Wall Street Zen raised Arteris from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Arteris has an average rating of "Hold" and an average price target of $20.17.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Roubaix Capital LLC acquired a new stake in Arteris in the third quarter valued at $2,361,000. Squarepoint Ops LLC increased its holdings in shares of Arteris by 143.8% in the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company's stock valued at $1,153,000 after purchasing an additional 71,340 shares in the last quarter. Granahan Investment Management LLC increased its holdings in shares of Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after purchasing an additional 546,341 shares in the last quarter. Herald Investment Management Ltd lifted its stake in shares of Arteris by 33.3% in the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company's stock valued at $4,036,000 after purchasing an additional 100,000 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Arteris by 59.3% in the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company's stock valued at $1,334,000 after purchasing an additional 49,153 shares during the period. Hedge funds and other institutional investors own 64.36% of the company's stock.

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.

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