Insider Selling: Arteris, Inc. (NASDAQ:AIP) VP Sells 3,615 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) VP Paul L. Alpern sold 3,615 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $7.13, for a total transaction of $25,774.95. Following the completion of the transaction, the vice president now directly owns 68,084 shares of the company’s stock, valued at approximately $485,438.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arteris Trading Up 4.0 %

Arteris stock traded up $0.29 during midday trading on Tuesday, reaching $7.46. The stock had a trading volume of 68,262 shares, compared to its average volume of 171,835. The firm’s fifty day simple moving average is $7.49 and its two-hundred day simple moving average is $7.64. Arteris, Inc. has a twelve month low of $4.20 and a twelve month high of $9.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $287.05 million, a price-to-earnings ratio of -7.19 and a beta of 1.11.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, August 1st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $14.58 million during the quarter, compared to analysts’ expectations of $13.68 million. Arteris had a negative return on equity of 274.66% and a negative net margin of 68.37%. During the same quarter in the previous year, the company earned ($0.25) EPS. Equities analysts anticipate that Arteris, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Arteris by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock worth $8,390,000 after purchasing an additional 3,242 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Arteris by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 114,700 shares of the company’s stock valued at $861,000 after acquiring an additional 6,600 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Arteris during the 2nd quarter valued at about $86,000. Algert Global LLC acquired a new stake in shares of Arteris during the 2nd quarter valued at about $115,000. Finally, GSA Capital Partners LLP boosted its position in shares of Arteris by 26.9% during the 1st quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock valued at $973,000 after acquiring an additional 28,165 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

AIP has been the topic of several research analyst reports. Westpark Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Arteris in a research report on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of Arteris in a research report on Monday, August 5th.

About Arteris

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.