Insider Selling: Arteris, Inc. (NASDAQ:AIP) CFO Sells $29,842.47 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins sold 4,949 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $6.03, for a total transaction of $29,842.47. Following the completion of the transaction, the chief financial officer now directly owns 176,596 shares of the company’s stock, valued at approximately $1,064,873.88. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Arteris Stock Down 9.2 %

Shares of NASDAQ AIP opened at $5.99 on Monday. The business has a 50-day moving average of $8.70 and a 200-day moving average of $8.81. The firm has a market capitalization of $245.28 million, a price-to-earnings ratio of -6.88 and a beta of 1.31. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.30. Arteris, Inc. has a 12 month low of $5.76 and a 12 month high of $12.64.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Arteris had a negative net margin of 58.27% and a negative return on equity of 828.71%. The company had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $15.34 million. Sell-side analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arteris

A number of large investors have recently modified their holdings of the company. Needham Investment Management LLC grew its position in Arteris by 0.4% during the fourth quarter. Needham Investment Management LLC now owns 2,745,000 shares of the company’s stock valued at $27,972,000 after acquiring an additional 10,000 shares during the last quarter. Franklin Resources Inc. raised its position in Arteris by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock worth $11,201,000 after purchasing an additional 12,375 shares during the period. Samjo Management LLC raised its position in Arteris by 0.9% in the 4th quarter. Samjo Management LLC now owns 1,157,250 shares of the company’s stock worth $11,792,000 after purchasing an additional 10,000 shares during the period. Geode Capital Management LLC lifted its stake in Arteris by 6.6% in the third quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock worth $4,610,000 after purchasing an additional 36,908 shares during the last quarter. Finally, State Street Corp boosted its position in Arteris by 18.5% during the third quarter. State Street Corp now owns 410,578 shares of the company’s stock valued at $3,170,000 after buying an additional 64,081 shares during the period. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AIP shares. Northland Securities boosted their price objective on Arteris from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Arteris in a research note on Tuesday, February 18th.

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.