Arteris (NASDAQ:AIP) VP Paul Alpern Sells 5,000 Shares of Stock

by · The Cerbat Gem

Arteris, Inc. (NASDAQ:AIP – Get Free Report) VP Paul Alpern sold 5,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.30, for a total value of $71,500.00. Following the transaction, the vice president owned 65,960 shares in the company, valued at $943,228. This trade represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arteris Stock Performance

Shares of NASDAQ:AIP opened at $15.82 on Thursday. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $15.97. The company’s fifty day moving average is $13.29 and its two-hundred day moving average is $10.53. The stock has a market capitalization of $691.02 million, a price-to-earnings ratio of -19.06 and a beta of 1.49.

Arteris (NASDAQ:AIP – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. The business had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. Sell-side analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after buying an additional 260,277 shares in the last quarter. Acuitas Investments LLC acquired a new stake in shares of Arteris in the 2nd quarter worth approximately $858,000. Worth Venture Partners LLC bought a new position in shares of Arteris in the second quarter valued at approximately $451,000. Franklin Resources Inc. increased its stake in shares of Arteris by 9.6% during the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after acquiring an additional 142,936 shares during the period. Finally, AlphaQuest LLC raised its holdings in Arteris by 65.1% during the second quarter. AlphaQuest LLC now owns 64,504 shares of the company’s stock worth $615,000 after purchasing an additional 25,426 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIP. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. TD Cowen boosted their price target on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Rosenblatt Securities increased their price objective on shares of Arteris from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

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About Arteris

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Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.

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