Arteris (NASDAQ:AIP) Stock: Insider Paul Alpern Sells 6,500 Shares

by · The Markets Daily

Arteris, Inc. (NASDAQ:AIP – Get Free Report) VP Paul Alpern sold 6,500 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $23.84, for a total value of $154,960.00. Following the sale, the vice president owned 70,733 shares of the company’s stock, valued at $1,686,274.72. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Stock Down 2.8%

Shares of NASDAQ:AIP traded down $0.69 during trading on Monday, hitting $23.97. The company’s stock had a trading volume of 784,618 shares, compared to its average volume of 730,172. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Arteris, Inc. has a fifty-two week low of $12.06 and a fifty-two week high of $50.26. The stock’s 50-day moving average price is $24.86 and its two-hundred day moving average price is $28.55. The company has a market capitalization of $1.18 billion, a PE ratio of -27.55 and a beta of 1.90.

Arteris (NASDAQ:AIP – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to analysts’ expectations 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 EPS for the current year.

Wall Street Analyst Weigh In

AIP has been the topic of a number of recent research reports. Roth Capital initiated coverage on shares of Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. Oppenheimer initiated coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Rosenblatt Securities reissued a “buy” rating and set a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Finally, Craig Hallum began coverage on shares of Arteris in a research report on Monday, September 21st. They issued a “buy” rating and a $30.00 target price for the company. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.43.

View Our Latest Research Report on AIP

Institutional Investors Weigh In On Arteris

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Arteris in the 2nd quarter valued at about $53,000. Versant Capital Management Inc boosted its holdings in shares of Arteris by 33.7% in the second 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. Allworth Financial LP acquired a new position in shares of Arteris during the second quarter valued at approximately $87,000. State of Wyoming acquired a new position in shares of Arteris during the second quarter valued at approximately $165,000. Finally, Royal Bank of Canada raised its holdings in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

(Get Free Report)

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.

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