Insider Selling: Arteris, Inc. (NASDAQ:AIP) CFO Sells 11,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $10.33, for a total transaction of $113,630.00. Following the transaction, the chief financial officer now owns 154,308 shares in the company, valued at approximately $1,594,001.64. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Arteris Stock Up 1.2 %

Arteris stock opened at $9.74 on Friday. The stock has a 50 day moving average of $10.40 and a two-hundred day moving average of $8.60. Arteris, Inc. has a twelve month low of $5.76 and a twelve month high of $12.64. The stock has a market capitalization of $391.35 million, a price-to-earnings ratio of -10.15 and a beta of 1.18. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On Arteris

Hedge funds have recently modified their holdings of the stock. Needham Investment Management LLC increased its stake in Arteris by 14.7% in the 3rd quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company’s stock valued at $21,114,000 after buying an additional 350,000 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Arteris by 0.8% in the third quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock valued at $11,201,000 after acquiring an additional 12,375 shares in the last quarter. Geode Capital Management LLC increased its stake 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 acquiring an additional 36,908 shares during the period. State Street Corp raised its holdings in Arteris by 18.5% during the third quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after purchasing an additional 64,081 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Arteris in the third quarter valued at about $2,504,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Arteris in a research note on Wednesday, November 6th.

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.