Arteris (NASDAQ:AIP) CFO Nicholas Hawkins Sells 4,870 Shares

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 4,870 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total value of $85,955.50. Following the completion of the sale, the chief financial officer owned 118,614 shares of the company’s stock, valued at $2,093,537.10. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Trading Up 0.2%

Shares of NASDAQ:AIP opened at $18.24 on Tuesday. The company has a market cap of $829.37 million, a price-to-earnings ratio of -22.24 and a beta of 1.43. The company has a 50-day moving average price of $15.67 and a 200-day moving average price of $14.96. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. As a group, research analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently made changes to their positions in AIP. Raymond James Financial Inc. bought a new position in shares of Arteris during the second quarter valued at approximately $32,000. BNP Paribas Financial Markets increased its stake in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares in the last quarter. Strs Ohio bought a new position in shares of Arteris during the first quarter valued at approximately $104,000. Penn Capital Management Company LLC bought a new position in shares of Arteris during the third quarter valued at approximately $109,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Arteris during the third quarter valued at approximately $113,000. Institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Arteris News Roundup

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

Arteris Company Profile

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.