Insider Selling: Arteris, Inc. (NASDAQ:AIP) CFO Sells 11,628 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins sold 11,628 shares of Arteris stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total transaction of $91,396.08. Following the completion of the transaction, the chief financial officer now directly owns 224,659 shares of the company’s stock, valued at $1,765,819.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Arteris Trading Down 2.8 %

Shares of NASDAQ:AIP traded down $0.21 during trading hours on Thursday, hitting $7.28. 276,304 shares of the company’s stock traded hands, compared to its average volume of 182,089. Arteris, Inc. has a 1 year low of $4.20 and a 1 year high of $9.54. The business has a fifty day moving average price of $7.87 and a 200-day moving average price of $7.57. The firm has a market capitalization of $280.13 million, a P/E ratio of -7.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.14.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The business had revenue of $14.58 million during the quarter, compared to the consensus estimate of $13.68 million. Arteris had a negative net margin of 68.37% and a negative return on equity of 274.66%. During the same period last year, the company earned ($0.25) EPS. Equities analysts expect that Arteris, Inc. will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIP. Victory Capital Management Inc. bought a new stake in shares of Arteris during the fourth quarter valued at approximately $60,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Arteris in the 2nd quarter worth $86,000. Algert Global LLC purchased a new stake in shares of Arteris in the 2nd quarter worth $115,000. Rhumbline Advisers lifted its holdings in shares of Arteris by 2,182.8% in the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock worth $239,000 after buying an additional 30,428 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Arteris during the 2nd quarter worth about $554,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on AIP shares. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research note on Monday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $9.00 price objective (down from $11.00) on shares of Arteris in a research note on Monday, May 13th. Finally, Westpark Capital restated a “buy” rating and set a $11.00 price target on shares of Arteris in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

Arteris Company Profile

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.