Key Points
- Arteris CFO Nicholas Hawkins sold 10,431 shares at an average price of $28.26, receiving approximately $294,780 and reducing his direct ownership by 9.83% to 95,666 shares.
- Arteris recently reported a quarterly loss of $0.10 per share, missing estimates by $0.06, though revenue of $24.13 million exceeded expectations. Analysts forecast a full-year loss of $0.58 per share.
- Despite the insider sale, analyst sentiment remains positive: five analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $41, compared with shares near $28.32.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) CFO Nicholas Hawkins sold 10,431 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $28.26, for a total transaction of $294,780.06. Following the completion of the sale, the chief financial officer directly owned 95,666 shares of the company's stock, valued at $2,703,521.16. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Arteris Price Performance
Shares of AIP opened at $28.32 on Friday. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -32.55 and a beta of 1.96. The firm has a 50-day simple moving average of $35.06 and a 200-day simple moving average of $26.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 1.57.
Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The company had revenue of $24.13 million for the quarter, compared to analysts' expectations of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. On average, equities research analysts anticipate that Arteris, Inc. will post -0.58 earnings per share for the current year.
Institutional Investors Weigh In On Arteris
A number of hedge funds have recently added to or reduced their stakes in AIP. Jupiter Topco LLC purchased a new stake in Arteris in the 2nd quarter valued at approximately $665,000. Hsbc Holdings PLC purchased a new position in shares of Arteris during the 2nd quarter worth approximately $3,132,000. Canada Pension Plan Investment Board acquired a new stake in shares of Arteris in the 2nd quarter valued at approximately $743,000. Legal & General Group Plc acquired a new stake in shares of Arteris in the 2nd quarter valued at approximately $1,191,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Arteris in the second quarter valued at approximately $454,000. Institutional investors and hedge funds own 64.36% of the company's stock.
Analysts Set New Price Targets
AIP has been the topic of several analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Roth Capital initiated coverage on Arteris in a research note on Tuesday, August 4th. They set a "buy" rating and a $40.00 price target for the company. Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. TD Cowen lifted 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. Finally, Oppenheimer started coverage on shares of Arteris in a research report on Thursday, July 16th. They issued an "outperform" rating and a $40.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.00.
Get Our Latest Analysis 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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