Key Points
- Arteris VP Paul Alpern sold 5,000 shares on December 1 at an average price of $14.30 for about $71,500, reducing his stake to 65,960 shares (a 7.05% decrease) with the trade disclosed in an SEC filing.
- The stock trades in the mid-teens (opened at $15.82) with a market cap of about $691M, negative profitability metrics despite a recent EPS/revenue beat, and a consensus analyst rating of Moderate Buy with an average price target of $17.50.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 5,000 shares of the company's stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.30, for a total transaction of $71,500.00. Following the completion of the sale, the vice president directly owned 65,960 shares of the company's stock, valued at $943,228. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Arteris Price Performance
Shares of AIP opened at $15.82 on Thursday. The firm's 50 day moving average is $13.29 and its 200-day moving average is $10.53. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $15.97. The stock has a market capitalization of $691.02 million, a P/E ratio of -19.06 and a beta of 1.49.
Arteris (NASDAQ:AIP - Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to analysts' expectations of $17.00 million. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. As a group, equities research analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AIP. TD Cowen lifted their target price on Arteris from $15.00 to $16.50 and gave the stock a "buy" rating in a report on Wednesday, November 5th. Jefferies Financial Group raised Arteris to a "hold" rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arteris in a research note on Wednesday, October 8th. Rosenblatt Securities raised their target price on shares of Arteris from $14.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Arteris from a "sell" rating to a "hold" rating in a report on Monday, September 15th. Four equities 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.50.
View Our Latest Stock Report on Arteris
Hedge Funds Weigh In On Arteris
Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Arteris in the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets grew its position in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock valued at $61,000 after purchasing an additional 2,595 shares in the last quarter. Savant Capital LLC purchased a new position in Arteris during the second quarter valued at approximately $97,000. Kapitalo Investimentos Ltda acquired a new position in Arteris in the 2nd quarter valued at approximately $104,000. Finally, Strs Ohio purchased a new stake in Arteris in the 1st quarter worth approximately $104,000. Hedge funds and other institutional investors own 64.36% of the company's stock.
About Arteris
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
