Key Points
- Arteris CFO Nicholas Hawkins sold 3,000 shares on May 26 at an average price of $37.75, totaling $113,250. After the sale, he still owned 108,549 shares worth about $4.10 million.
- The company recently beat earnings expectations, reporting a loss of $0.03 per share versus the expected $0.08 loss, while revenue of $22.94 million also came in above estimates.
- Analysts remain mixed but generally positive, with a consensus rating of “Hold” and an average price target of $37.75, roughly in line with the stock’s recent trading price near its 52-week high.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) CFO Nicholas Hawkins sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $37.75, for a total transaction of $113,250.00. Following the sale, the chief financial officer owned 108,549 shares of the company's stock, valued at $4,097,724.75. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Arteris Stock Performance
Shares of NASDAQ AIP opened at $36.92 on Friday. The firm has a 50 day moving average of $25.25 and a 200 day moving average of $19.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -46.73 and a beta of 1.93. Arteris, Inc. has a 12-month low of $7.53 and a 12-month high of $38.47.
Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. On average, research analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current year.
Hedge Funds Weigh In On Arteris
Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Arteris in the second quarter worth $32,000. Royal Bank of Canada lifted its holdings in shares of Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock worth $66,000 after buying an additional 3,161 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% in the third 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 in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Arteris by 352.4% in the fourth 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 in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Arteris in the fourth quarter worth $162,000. Hedge funds and other institutional investors own 64.36% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on AIP shares. Northland Securities set a $38.00 price target on shares of Arteris in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Arteris from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Jefferies Financial Group upped their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a "hold" rating in a research report on Wednesday, May 13th. Rosenblatt Securities upped their price target on shares of Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Finally, TD Cowen upped their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Two investment 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. According to MarketBeat, Arteris currently has a consensus rating of "Hold" and an average price target of $37.75.
Check Out Our Latest Stock Analysis on AIP
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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