Key Points
- Bayview Legacy sold 100,000 Arteris shares at an average price of $20.75, generating $2.075 million and reducing its ownership by 1.2% to 8.23 million shares.
- Arteris shares opened at $20.68, well below their 52-week high of $50.26. The company recently missed quarterly earnings expectations, reporting a loss of $0.10 per share despite revenue of $24.13 million.
- Analysts remain broadly positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $41, compared with the current share price near $21.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total value of $83,080.00. Following the completion of the sale, the vice president directly owned 70,733 shares of the company's stock, valued at approximately $1,469,124.41. The trade was a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Arteris Price Performance
NASDAQ:AIP opened at $20.68 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of -23.77 and a beta of 1.91. Arteris, Inc. has a 1-year low of $8.42 and a 1-year high of $50.26. The firm has a fifty day simple moving average of $30.22 and a 200 day simple moving average of $27.45. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.
Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. On average, research analysts expect that Arteris, Inc. will post -0.68 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently issued reports on AIP. Roth Capital began coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a "buy" rating and a $40.00 target price on the stock. TD Cowen lifted their price target on Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Rosenblatt Securities reissued a "buy" rating and set a $38.00 price target on shares of Arteris in a research report on Friday, August 7th. Northland Securities set a $38.00 price objective on Arteris in a research note on Wednesday, May 13th. Finally, Oppenheimer started coverage on Arteris in a research report on Thursday, July 16th. They issued an "outperform" rating and a $40.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.00.
Check Out Our Latest Report on AIP
Hedge Funds Weigh In On Arteris
Several institutional investors and hedge funds have recently modified their holdings of AIP. Corient Private Wealth LP bought a new position in shares of Arteris in the second quarter valued at about $471,000. California State Teachers Retirement System boosted its holdings in shares of Arteris by 105,728.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company's stock worth $87,829,000 after buying an additional 1,805,840 shares during the period. AXQ Capital LP acquired a new position in Arteris in the 2nd quarter valued at about $661,000. Proficio Capital Partners LLC acquired a new position in Arteris in the 2nd quarter valued at about $231,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in Arteris by 86.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,353 shares of the company's stock valued at $1,329,000 after buying an additional 12,675 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.
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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