Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 3,648 shares of Arteris stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total transaction of $141,469.44. Following the completion of the sale, the vice president owned 76,736 shares of the company's stock, valued at $2,975,822.08. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Arteris Stock Down 6.8%
Shares of NASDAQ AIP opened at $32.44 on Tuesday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -42.16 and a beta of 1.92. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The business's 50 day moving average is $36.53 and its two-hundred day moving average is $23.67.
Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analysts' expectations of $21.03 million. Research analysts predict that Arteris, Inc. will post -0.54 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on AIP. Weiss Ratings lowered shares of Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Jefferies Financial Group raised their price objective on shares of Arteris from $16.00 to $35.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. Rosenblatt Securities lifted their price objective on shares of Arteris from $20.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. TD Cowen upped their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on shares of Arteris in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Arteris has an average rating of "Hold" and a consensus price target of $37.75.
Read Our Latest Analysis on AIP
Institutional Trading of Arteris
Several hedge funds have recently added to or reduced their stakes in AIP. AQR Capital Management LLC purchased a new position in Arteris in the first quarter worth approximately $1,621,000. Strs Ohio acquired a new stake in shares of Arteris in the 1st quarter valued at $104,000. Geode Capital Management LLC lifted its position in shares of Arteris by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company's stock worth $6,222,000 after purchasing an additional 30,018 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Arteris by 35.8% during the 2nd quarter. Rhumbline Advisers now owns 54,416 shares of the company's stock worth $519,000 after purchasing an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Arteris by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company's stock worth $3,053,000 after purchasing an additional 25,448 shares in the last quarter. Institutional investors and hedge funds 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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