Key Points
- CEO K. Charles Janac sold 100,000 Arteris shares for approximately $2.38 million at an average price of $23.82, reducing his holdings by 1.22% to 8.13 million shares. The sale was made to cover tax withholding tied to vested equity awards.
- Arteris reported quarterly revenue of $24.13 million, above estimates, but its adjusted loss of $0.10 per share missed expectations of $0.04. Analysts expect a full-year loss of approximately $0.68 per share.
- The stock opened at $23.97, well below its 12-month high of $50.26, while analysts maintained a generally favorable outlook with a consensus “Moderate Buy” rating and a $39.43 price target.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) VP Paul Alpern sold 3,648 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $24.64, for a total value of $89,886.72. Following the transaction, the vice president directly owned 67,085 shares in the company, valued at $1,652,974.40. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Arteris Trading Down 2.8%
NASDAQ AIP opened at $23.97 on Tuesday. The company has a market cap of $1.18 billion, a PE ratio of -27.55 and a beta of 1.90. 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, Inc. has a 12 month low of $12.06 and a 12 month high of $50.26. The stock has a 50 day moving average of $24.73 and a 200-day moving average of $28.61.
Arteris (NASDAQ:AIP - Get Free Report) last issued its 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). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The firm had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. On average, equities research analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current fiscal year.
Institutional Trading of Arteris
Hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in shares of Arteris during the 2nd quarter worth about $384,000. Spark Investment Management LLC bought a new position in Arteris in the 2nd quarter valued at about $1,074,000. Arizona State Retirement System acquired a new stake in Arteris during the second quarter worth approximately $442,000. Corient Private Wealth LP acquired a new stake in Arteris during the second quarter worth approximately $471,000. Finally, AXQ Capital LP acquired a new stake in Arteris during the second quarter worth approximately $661,000. Institutional investors and hedge funds own 64.36% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on AIP. Jefferies Financial Group raised shares of Arteris from a "hold" rating to a "buy" rating and upped their target price for the company from $35.00 to $50.00 in a report on Friday, August 7th. 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. Craig Hallum assumed coverage on Arteris in a research note on Monday, September 21st. They issued a "buy" rating and a $30.00 price objective on the stock. Oppenheimer initiated 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. Finally, Weiss Ratings upgraded Arteris from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 21st. Six 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 an average rating of "Moderate Buy" and an average price target of $39.43.
Check Out Our Latest Analysis on AIP
Trending Headlines about Arteris
Here are the key news stories impacting Arteris this week:
- Neutral Sentiment: CEO K. Charles Janac sold 100,000 shares for approximately $2.38 million, reducing his position by 1.22%. The filing states the sale covered tax withholding obligations related to vested equity awards, making it a less negative signal than discretionary selling. SEC filing for CEO share sale
- Neutral Sentiment: Janac also sold 9,359 shares for about $230,606, while Vice President Paul Alpern sold 6,500 shares for approximately $154,960. Both transactions were explicitly made to satisfy tax withholding requirements tied to equity vesting. SEC filing for executive tax-related sales SEC filing for vice president tax-related sales
- Negative Sentiment: Major shareholder Bayview Legacy LLC sold 100,000 shares for approximately $2.38 million, reducing its stake by 1.22%. Unlike the executive transactions, the filing does not identify tax withholding as the reason for the sale. Large-shareholder selling can weigh on sentiment by raising concerns about near-term supply and confidence in the stock. SEC filing for Bayview Legacy share sale
Arteris Company Profile
(
Get Free Report)
Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.
The company's portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.
Further Reading
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