Key Points
- Paul Alpern, Arteris VP, sold 2,500 shares on Jan. 5 at an average of $16.00 for $40,000, trimming his holding by 3.88% to 61,968 shares; the sale was disclosed in an SEC filing.
- Arteris beat quarterly estimates with EPS of ($0.09) vs. consensus ($0.11) and revenue of $17.41M, while the stock trades between a 52-week low/high of $5.46/$19.85 and has a market cap of about $761M.
- Wall Street has a consensus rating of "Moderate Buy" (average price target $17.50; four Buys, one Hold, one Sell), and institutional investors own roughly 64.4% of the shares, with several funds recently increasing stakes.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 2,500 shares of the company's stock in a transaction on Monday, January 5th. The shares were sold at an average price of $16.00, for a total value of $40,000.00. Following the sale, the vice president owned 61,968 shares of the company's stock, valued at approximately $991,488. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Arteris Stock Performance
Shares of NASDAQ:AIP opened at $17.42 on Thursday. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $19.85. The stock has a market capitalization of $760.91 million, a price-to-earnings ratio of -20.99 and a beta of 1.48. The stock's 50-day simple moving average is $15.27 and its two-hundred day simple moving average is $12.05.
Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. As a group, equities analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
AIP has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Arteris in a research note on Monday, December 15th. Jefferies Financial Group upgraded shares of Arteris to a "hold" rating in a report on Tuesday, October 28th. Wall Street Zen raised Arteris from a "sell" rating to a "hold" rating in a research note on Monday, September 15th. Cowen reaffirmed a "buy" rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, TD Cowen raised their price target on Arteris from $15.00 to $16.50 and gave the company a "buy" rating in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $17.50.
Get Our Latest Analysis on AIP
Institutional Investors Weigh In On Arteris
Hedge funds have recently made changes to their positions in the stock. Penn Capital Management Company LLC bought a new stake in Arteris during the third quarter valued at about $109,000. Worth Venture Partners LLC grew its position in shares of Arteris by 24.2% in the 3rd quarter. Worth Venture Partners LLC now owns 58,731 shares of the company's stock worth $593,000 after buying an additional 11,446 shares during the last quarter. Westerly Capital Management LLC raised its stake in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company's stock worth $14,392,000 after acquiring an additional 745,000 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Arteris during the third quarter valued at approximately $113,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company's stock worth $242,000 after purchasing an additional 2,613 shares during the last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
About Arteris
(
Get Free Report)
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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