Insider Selling: Arteris, Inc. (NASDAQ:AIP) VP Sells $20,491.36 in Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul L. Alpern sold 2,878 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $7.12, for a total transaction of $20,491.36. Following the completion of the transaction, the vice president now directly owns 87,326 shares of the company’s stock, valued at $621,761.12. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arteris Trading Down 9.2 %

Arteris stock opened at $5.99 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $245.28 million, a PE ratio of -6.88 and a beta of 1.31. The stock has a 50-day moving average of $8.70 and a two-hundred day moving average of $8.81. Arteris, Inc. has a one year low of $5.76 and a one year high of $12.64.

Arteris (NASDAQ:AIP) last released its earnings results 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 return on equity of 828.71% and a negative net margin of 58.27%. The company had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $15.34 million. On average, research analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Arteris

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its position in Arteris by 18.5% during the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after acquiring an additional 64,081 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Arteris by 67.1% in the third quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company’s stock worth $712,000 after purchasing an additional 37,032 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arteris by 6.6% during 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 period. Barclays PLC boosted its position in Arteris by 321.1% in the third quarter. Barclays PLC now owns 39,396 shares of the company’s stock valued at $304,000 after buying an additional 30,041 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Arteris by 36.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 253,211 shares of the company’s stock valued at $1,955,000 after buying an additional 67,414 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.