Arteris (NASDAQ:AIP) COO Laurent Moll Sells 5,602 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) COO Laurent Moll sold 5,602 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total value of $98,875.30. Following the completion of the sale, the chief operating officer owned 282,524 shares in the company, valued at approximately $4,986,548.60. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Price Performance

Arteris stock opened at $18.24 on Tuesday. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85. The stock’s fifty day moving average is $15.67 and its two-hundred day moving average is $14.96. The stock has a market cap of $829.37 million, a PE ratio of -22.24 and a beta of 1.43.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. On average, research analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on AIP. Northland Securities set a $24.00 price objective on shares of Arteris in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Wall Street Zen upgraded Arteris from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arteris presently has a consensus rating of “Hold” and an average target price of $20.17.

Hedge Funds Weigh In On Arteris

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets increased its holdings in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares during the period. New York State Common Retirement Fund increased its position in Arteris by 352.4% in the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after acquiring an additional 7,400 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Arteris in the 4th quarter valued at about $162,000. Finally, Penn Capital Management Company LLC acquired a new position in Arteris in the 3rd quarter valued at about $109,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Arteris

Here are the key news stories impacting Arteris this week:

• Neutral Sentiment: CEO K. Charles Janac sold 9,009 shares at an average $17.65 for $159,009; post-sale ownership ~208,529 shares (−4.14%). The sale was executed under a pre-arranged 10b5-1 plan to cover tax withholding. SEC Filing
• Neutral Sentiment: COO Laurent R. Moll sold 1,552 shares at an average $18.23 for $28,293; post-sale ownership ~280,972 shares (−0.55%). The sale was part of a pre-arranged 10b5-1 plan to cover tax obligations. SEC Filing
• Neutral Sentiment: COO Laurent R. Moll also sold 5,602 shares at $17.65 for $98,875; post-sale ownership ~282,524 shares (−1.94%). Executed under a 10b5-1 plan for tax withholding on vested awards. SEC Filing
• Neutral Sentiment: CFO Nicholas B. Hawkins sold 4,870 shares at $17.65 for $85,956; post-sale ownership ~118,614 shares (−3.94%). Sale made to cover tax withholding and disclosed via SEC filing. SEC Filing
• Neutral Sentiment: VP Paul L. Alpern sold 3,649 shares at $17.65 for $64,405; post-sale ownership ~86,386 shares (−4.05%). Also executed to cover tax withholding on vested awards. SEC Filing
• Neutral Sentiment: CEO K. Charles Janac additionally sold 11,800 shares at $18.34 for $216,412; post-sale ownership ~196,729 shares (−5.66%). Executed under a pre-arranged 10b5-1 plan to cover tax withholding. SEC Filing

About Arteris

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.