Key Points
- COO sale: Arteris COO Laurent Moll sold 13,448 shares on April 14 at an average price of $20.03 for $269,363.44, reducing his stake by 4.82 and leaving him with 265,530 shares valued at about $5.32M.
- Quarterly update: Arteris beat estimates with EPS of ($0.05) vs. ($0.08) expected and revenue of $20.14M vs. $18.55M, but remains unprofitable; the stock trades near its 52‑week high and carries a consensus Hold rating with a $20.17 target.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Raman Chitkara sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $20.05, for a total transaction of $100,250.00. Following the transaction, the director owned 152,867 shares of the company's stock, valued at $3,064,983.35. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Arteris Stock Up 6.0%
NASDAQ AIP opened at $21.52 on Friday. Arteris, Inc. has a 52 week low of $5.64 and a 52 week high of $21.57. The stock has a market capitalization of $978.51 million, a PE ratio of -26.24 and a beta of 1.43. The firm has a 50 day moving average of $16.42 and a two-hundred day moving average of $15.43.
Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. On average, equities research analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have recently issued reports on AIP. Wall Street Zen upgraded shares of Arteris from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Arteris in a report on Wednesday, January 21st. Rosenblatt Securities restated a "buy" rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Finally, Northland Securities set a $24.00 target price on shares of Arteris in a report on Friday, February 13th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.17.
Check Out Our Latest Analysis on Arteris
Hedge Funds Weigh In On Arteris
Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Arteris during the 2nd quarter worth $32,000. BNP Paribas Financial Markets raised its position in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock worth $61,000 after buying an additional 2,595 shares during the last quarter. New York State Common Retirement Fund raised its position in Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company's stock worth $147,000 after buying an additional 7,400 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Arteris during the 4th quarter worth $162,000. Finally, Penn Capital Management Company LLC purchased a new position in Arteris during the 3rd quarter worth $109,000. Hedge funds and other institutional investors own 64.36% of the company's stock.
Arteris Company Profile
(
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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