Arteris, Inc. (NASDAQ:AIP) VP Paul L. Alpern Sells 2,878 Shares

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 shares were sold at an average price of $7.12, for a total value 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. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Arteris Trading Down 9.2 %

Shares of AIP stock opened at $5.99 on Monday. Arteris, Inc. has a 1-year low of $5.76 and a 1-year high of $12.64. The company has a market cap of $245.28 million, a price-to-earnings ratio of -6.88 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a 50 day simple moving average of $8.70 and a 200-day simple moving average of $8.81.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) 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. On average, equities research analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Arteris

Several institutional investors have recently bought and sold shares of AIP. G2 Investment Partners Management LLC acquired a new position in shares of Arteris during the fourth quarter valued at approximately $2,799,000. Federated Hermes Inc. increased its position in shares of Arteris by 729.4% during the fourth quarter. Federated Hermes Inc. now owns 165,878 shares of the company’s stock worth $1,690,000 after purchasing an additional 145,878 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Arteris in the 4th quarter valued at $1,272,000. EAM Investors LLC purchased a new position in Arteris in the 4th quarter valued at $983,000. Finally, Millennium Management LLC boosted its stake in Arteris by 56.5% during the 4th quarter. Millennium Management LLC now owns 238,309 shares of the company’s stock worth $2,428,000 after purchasing an additional 85,996 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIP has been the subject of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of Arteris in a research note on Tuesday, February 18th. Northland Securities upped their price objective on shares of Arteris from $14.00 to $16.00 and gave the stock an “outperform” rating in a research 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.