Key Points
- Arteris VP Paul Alpern sold 4,000 shares at an average price of $30.04, generating $120,160 and reducing his direct stake by 5.35% to 70,733 shares.
- Arteris reported quarterly revenue of $22.94 million and an adjusted loss of $0.03 per share, beating analysts’ estimates of $21.03 million and a $0.08 loss, respectively.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $38.50 target price versus the referenced share price of $30.93, although several executives and directors have recently sold shares.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 4,000 shares of Arteris stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.04, for a total value of $120,160.00. Following the completion of the transaction, the vice president directly owned 70,733 shares of the company's stock, valued at approximately $2,124,819.32. This represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Arteris Stock Performance
Shares of Arteris stock opened at $30.93 on Thursday. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The firm's 50-day moving average is $36.17 and its 200 day moving average is $26.06. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73.
Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. Sell-side analysts anticipate that Arteris, Inc. will post -0.6 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on AIP shares. Oppenheimer began coverage on shares of Arteris in a research report on Thursday, July 16th. They set an "outperform" rating and a $40.00 price target for the company. Roth Capital started coverage on Arteris in a research note on Tuesday. They set a "buy" rating and a $40.00 target price on the stock. Weiss Ratings lowered Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Rosenblatt Securities boosted their price target on Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Finally, Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Four investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.
Read Our Latest Stock Report on AIP
Trending Headlines about Arteris
Here are the key news stories impacting Arteris this week:
- Positive Sentiment: Roth Capital began coverage of Arteris with a Buy rating and a $40 price target, implying roughly 29% upside from the referenced $30.93 level. The initiation provides a new positive valuation signal for the semiconductor-design software company. Benzinga coverage
- Neutral Sentiment: The latest insider filings show that CEO K. Charles Janac and major shareholder Bayview Legacy each reported sales of 73,894 shares on August 3 at approximately $30.00 per share, followed by 26,106 shares on August 4 at approximately $31.97. Because the transactions appear in separate ownership filings, the reported figures should not necessarily be treated as entirely separate economic sales. CEO SEC filing
- Negative Sentiment: Additional insider selling included Director Saiyed Atiq Raza’s sale of 70,000 shares for about $2.1 million and Vice President Paul L. Alpern’s sale of 4,000 shares for roughly $120,000. The cluster of sales by senior executives and directors may pressure the stock by signaling that insiders are monetizing holdings, even though substantial ownership remains. Director SEC filing
Institutional Trading of Arteris
A number of institutional investors have recently made changes to their positions in the stock. Huntleigh Advisors Inc. bought a new position in Arteris during the fourth quarter valued at approximately $1,832,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Arteris in the fourth quarter worth approximately $1,914,000. Needham Investment Management LLC grew its position in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock worth $52,878,000 after purchasing an additional 86,500 shares during the period. Lazard Asset Management LLC bought a new stake in Arteris in the 1st quarter worth approximately $2,124,000. Finally, Granahan Investment Management LLC raised its stake in Arteris by 201.0% during the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company's stock valued at $11,723,000 after buying an additional 476,181 shares during the last quarter. 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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