Key Points
- Director Raman Chitkara sold 5,000 shares on April 24 at an average price of $25.06 for a total of $125,300, trimming his stake by 3.27% to 147,867 shares (≈$3.71M).
- Arteris stock was down 3.6% and opened at $25.65; the company has a ~$1.18B market cap and a negative PE, recently beat quarterly EPS and revenue estimates, but holds a consensus "Hold" rating with an average price target of $20.17.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Raman Chitkara sold 5,000 shares of Arteris stock in a transaction on Friday, April 24th. The stock was sold at an average price of $25.06, for a total value of $125,300.00. Following the transaction, the director owned 147,867 shares in the company, valued at approximately $3,705,547.02. This represents a 3.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Raman Chitkara also recently made the following trade(s):
- On Tuesday, April 14th, Raman Chitkara sold 5,000 shares of Arteris stock. The stock was sold at an average price of $20.05, for a total value of $100,250.00.
Arteris Stock Down 3.6%
NASDAQ AIP opened at $25.65 on Wednesday. The firm has a market cap of $1.18 billion, a PE ratio of -31.28 and a beta of 1.43. Arteris, Inc. has a 52 week low of $6.45 and a 52 week high of $27.11. The business's fifty day simple moving average is $17.97 and its 200-day simple moving average is $16.19.
Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analysts' expectations of $18.55 million. Research analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.
Analyst Ratings Changes
Several brokerages 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 Monday, April 20th. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Finally, Northland Securities set a $24.00 price objective on shares of Arteris in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.17.
Check Out Our Latest Stock Report on Arteris
Hedge Funds Weigh In On Arteris
Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Arteris in the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets grew its position in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock valued at $61,000 after acquiring an additional 2,595 shares in the last quarter. Strs Ohio acquired a new position in Arteris in the 1st quarter valued at about $104,000. Penn Capital Management Company LLC acquired a new position in Arteris in the 3rd quarter valued at about $109,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Arteris in the 3rd quarter valued at about $113,000. 64.36% of the stock is owned by institutional investors and hedge funds.
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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