Key Points
- Arteris VP Paul Alpern sold 12,502 shares on June 1 at an average price of $36.02, generating about $450,322 and reducing his stake by 13.46%.
- The company recently reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.03 per share and revenue of $22.94 million versus forecasts of $21.03 million.
- Wall Street sentiment is mixed, with Arteris carrying a Hold consensus rating and an average price target of $37.75, while shares have risen sharply toward their 52-week high of $38.99.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 12,502 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.02, for a total transaction of $450,322.04. Following the transaction, the vice president directly owned 80,384 shares in the company, valued at approximately $2,895,431.68. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Arteris Stock Performance
AIP opened at $37.41 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -47.35 and a beta of 1.98. Arteris, Inc. has a 52-week low of $7.56 and a 52-week high of $38.99. The firm's fifty day simple moving average is $26.95 and its two-hundred day simple moving average is $19.63.
Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts' expectations of $21.03 million. Equities analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Arteris
Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Arteris during the second quarter worth about $32,000. BNP Paribas Financial Markets raised its stake in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock worth $61,000 after purchasing an additional 2,595 shares during the period. Royal Bank of Canada raised its stake in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock worth $66,000 after purchasing an additional 3,161 shares during the period. Strs Ohio purchased a new position in Arteris during the first quarter worth about $104,000. Finally, Penn Capital Management Company LLC purchased a new position in Arteris during the third quarter worth about $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AIP has been the topic of several research reports. Weiss Ratings downgraded Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised their target price on Arteris from $16.00 to $35.00 and gave the company a "hold" rating in a research report on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. TD Cowen raised their target price on Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on Arteris in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arteris currently has an average rating of "Hold" and a consensus price target of $37.75.
Check Out Our Latest Stock Report on Arteris
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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