Insider Selling: Arteris, Inc. (NASDAQ:AIP) CFO Sells 2,988 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins sold 2,988 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.98, for a total value of $20,856.24. Following the transaction, the chief financial officer now owns 238,749 shares of the company’s stock, valued at $1,666,468.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Arteris Price Performance

Shares of AIP stock opened at $7.21 on Thursday. Arteris, Inc. has a 52-week low of $4.20 and a 52-week high of $9.54. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $7.82 and its 200-day moving average is $6.95.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. Arteris had a negative return on equity of 198.35% and a negative net margin of 69.70%. The firm had revenue of $12.95 million for the quarter, compared to analyst estimates of $12.60 million. As a group, equities research analysts forecast that Arteris, Inc. will post -0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of Arteris in a research note on Friday, May 3rd. Jefferies Financial Group restated 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Arteris presently has an average rating of “Moderate Buy” and a consensus target price of $13.40.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently added to or reduced their stakes in AIP. Victory Capital Management Inc. bought a new stake in shares of Arteris during the 4th quarter worth about $60,000. Algert Global LLC acquired a new position in Arteris in the 3rd quarter valued at $142,000. Worth Venture Partners LLC grew its holdings in Arteris by 22.6% in the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock valued at $334,000 after buying an additional 9,448 shares in the last quarter. Citigroup Inc. bought a new position in Arteris during the 3rd quarter worth $363,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Arteris by 8.3% during the third quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock worth $846,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.