Arteris, Inc. (NASDAQ:AIP) CFO Sells $72,200.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $7.22, for a total transaction of $72,200.00. Following the completion of the sale, the chief financial officer now owns 252,896 shares of the company’s stock, valued at $1,825,909.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arteris Price Performance

AIP opened at $7.25 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.09. Arteris, Inc. has a 52-week low of $3.57 and a 52-week high of $8.08. The company has a 50 day moving average of $7.04 and a two-hundred day moving average of $6.14. The company has a market cap of $274.41 million, a P/E ratio of -6.97 and a beta of 1.03.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Arteris had a negative return on equity of 150.71% and a negative net margin of 68.70%. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $11.90 million. On average, analysts expect that Arteris, Inc. will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Arteris by 12.3% during the first quarter. Franklin Resources Inc. now owns 1,468,200 shares of the company’s stock worth $6,210,000 after purchasing an additional 161,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arteris by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 1,142,982 shares of the company’s stock worth $6,732,000 after purchasing an additional 164,628 shares in the last quarter. Needham Investment Management LLC lifted its position in shares of Arteris by 188.6% during the fourth quarter. Needham Investment Management LLC now owns 1,010,000 shares of the company’s stock worth $5,949,000 after purchasing an additional 660,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of Arteris by 1.4% during the first quarter. BlackRock Inc. now owns 929,238 shares of the company’s stock worth $3,931,000 after purchasing an additional 12,752 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Arteris by 29.9% during the first quarter. Lord Abbett & CO. LLC now owns 677,617 shares of the company’s stock worth $8,809,000 after purchasing an additional 156,052 shares in the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an “outperform” rating and set a $17.00 price objective on shares of Arteris in a research note on Tuesday, February 20th.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.