Key Points
- Arteris CFO Nicholas Hawkins sold 221,035 shares on May 15 at an average price of $33.40, totaling about $7.38 million. After the sale, he held 110,600 shares, a 66.65% reduction in his position.
- Arteris recently reported quarterly results that beat expectations, posting a loss of $0.03 per share versus the expected $0.08 loss and revenue of $22.94 million versus $21.03 million expected.
- Analysts have turned more positive on the stock, with several raising price targets into the $35 to $40 range. MarketBeat shows a consensus rating of Hold with an average price target of $37.75.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) CFO Nicholas Hawkins sold 221,035 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $33.40, for a total transaction of $7,382,569.00. Following the transaction, the chief financial officer owned 110,600 shares in the company, valued at approximately $3,694,040. This trade represents a 66.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Arteris Stock Performance
AIP opened at $33.71 on Friday. Arteris, Inc. has a 52-week low of $6.88 and a 52-week high of $38.47. The company has a quick ratio of 1.13, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.56 billion, a P/E ratio of -42.67 and a beta of 1.93. The firm's 50-day moving average price is $21.50 and its 200-day moving average price is $17.58.
Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. As a group, equities analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on AIP shares. TD Cowen increased their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday. Weiss Ratings downgraded shares of Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday. Rosenblatt Securities increased their price target on shares of Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group increased their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Northland Securities set a $38.00 price target on shares of Arteris in a report on Wednesday. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $37.75.
Get Our Latest Research Report on Arteris
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new position in Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 2,595 shares in the last quarter. Strs Ohio purchased a new position in Arteris in the 1st quarter valued at $104,000. Penn Capital Management Company LLC purchased a new position in Arteris in the 3rd quarter valued at $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Arteris in the 3rd quarter valued at $113,000. 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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