Key Points
- Arteris COO Laurent Moll sold 9,219 shares at an average price of $20.85, generating $192,216.15 and reducing his direct ownership by 4.16% to 212,478 shares.
- Arteris reported a quarterly loss of $0.10 per share, missing estimates by $0.06, although revenue of $24.13 million exceeded forecasts; analysts expect a full-year loss of $0.68 per share.
- Analyst sentiment remains generally positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $41, while institutional investors own 64.36% of the stock.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) COO Laurent Moll sold 9,219 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $20.85, for a total transaction of $192,216.15. Following the transaction, the chief operating officer directly owned 212,478 shares of the company's stock, valued at $4,430,166.30. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Arteris Price Performance
NASDAQ AIP opened at $20.41 on Wednesday. The company has a 50-day moving average price of $27.32 and a two-hundred day moving average price of $27.84. Arteris, Inc. has a 52 week low of $8.75 and a 52 week high of $50.26. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -23.46 and a beta of 1.91. 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 released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Analysts forecast that Arteris, Inc. will post -0.68 EPS for the current year.
Analyst Ratings Changes
AIP has been the topic of several recent analyst reports. Jefferies Financial Group raised Arteris from a "hold" rating to a "buy" rating and lifted their target price for the company from $35.00 to $50.00 in a research note on Friday, August 7th. Roth Capital assumed coverage on Arteris in a research note on Tuesday, August 4th. They issued a "buy" rating and a $40.00 price target for the company. Oppenheimer began coverage on Arteris in a report on Thursday, July 16th. They set an "outperform" rating and a $40.00 price target on the stock. Rosenblatt Securities restated a "buy" rating and set a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th. Finally, Weiss Ratings raised shares of Arteris from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.00.
Get Our Latest Stock Analysis on AIP
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Needham Investment Management LLC lifted its position in Arteris by 2.6% in the fourth 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. BlackRock Inc. acquired a new position in shares of Arteris during the 2nd quarter valued at $160,129,000. Granahan Investment Management LLC increased its position in shares of 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 purchasing an additional 476,181 shares during the period. Wellington Management Group LLP raised its stake in shares of Arteris by 0.4% in the 2nd quarter. Wellington Management Group LLP now owns 500,200 shares of the company's stock worth $24,305,000 after buying an additional 1,897 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Arteris in the 2nd quarter worth $11,602,000. Institutional investors and hedge funds own 64.36% of the company's stock.
About Arteris
(
Get Free Report)
Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.
The company's product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.
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