Key Points
- Arteris COO Laurent Moll sold 39,541 shares on June 16 at an average price of $43.15, totaling about $1.71 million. After the sale, he still held 227,296 shares, a 14.82% reduction in his ownership.
- Arteris recently beat earnings expectations, reporting a quarterly loss of $0.03 per share versus estimates for a $0.08 loss, while revenue came in at $22.94 million, above the $21.03 million consensus.
- Wall Street sentiment is mixed: the stock has a consensus rating of Hold with an average target price of $37.75, even as several firms raised price targets and others downgraded or held their ratings.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) COO Laurent Moll sold 39,541 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $43.15, for a total value of $1,706,194.15. Following the sale, the chief operating officer directly owned 227,296 shares in the company, valued at $9,807,822.40. This trade represents a 14.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Arteris Price Performance
Shares of NASDAQ:AIP opened at $42.14 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -53.34 and a beta of 1.98. The business has a 50-day simple moving average of $31.10 and a two-hundred day simple moving average of $21.36. Arteris, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $44.94.
Arteris (NASDAQ:AIP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. On average, analysts expect that Arteris, Inc. will post -0.54 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. TD Cowen boosted their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Wall Street Zen cut Arteris from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Jefferies Financial Group boosted their price target on Arteris from $16.00 to $35.00 and gave the company a "hold" rating in a report on Wednesday, May 13th. Finally, Rosenblatt Securities raised their price objective on Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research note 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 company's stock. Based on data from MarketBeat.com, Arteris has a consensus rating of "Hold" and an average target price of $37.75.
Check Out Our Latest Stock Analysis on AIP
Institutional Trading of Arteris
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Arteris during the 2nd quarter valued at $32,000. BNP Paribas Financial Markets boosted 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 worth $61,000 after buying an additional 2,595 shares during the period. Royal Bank of Canada raised its holdings in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock valued at $66,000 after acquiring an additional 3,161 shares during the period. Strs Ohio purchased a new position in shares of Arteris in the first quarter valued at about $104,000. Finally, Penn Capital Management Company LLC purchased a new position in shares of Arteris in the third quarter valued at about $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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