Arteris (NASDAQ:AIP) VP Paul Alpern Sells 3,649 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul Alpern sold 3,649 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total transaction of $64,404.85. Following the completion of the transaction, the vice president owned 86,386 shares in the company, valued at $1,524,712.90. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arteris Price Performance

Shares of NASDAQ AIP opened at $18.24 on Tuesday. The company’s 50 day simple moving average is $15.67 and its 200 day simple moving average is $14.96. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm has a market capitalization of $829.37 million, a P/E ratio of -22.24 and a beta of 1.43.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Sell-side analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Northland Securities set a $24.00 target price on shares of Arteris in a research note on Friday, February 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.17.

Key Arteris News

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

Hedge Funds Weigh In On Arteris

A number of large investors have recently modified their holdings of the business. Intech Investment Management LLC boosted its stake in shares of Arteris by 9.3% during the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock worth $210,000 after buying an additional 1,148 shares during the last quarter. Deutsche Bank AG lifted its stake in Arteris by 7.7% in the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after acquiring an additional 1,504 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Arteris by 75.0% in the third 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 last quarter. Public Employees Retirement System of Ohio lifted its stake in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after acquiring an additional 2,613 shares during the last quarter. Finally, Strs Ohio lifted its stake in Arteris by 16.5% in the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after acquiring an additional 2,900 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.