Arteris, Inc. (NASDAQ:AIP) CFO Nicholas B. Hawkins Sells 2,988 Shares of Stock

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

Arteris Price Performance

NASDAQ AIP opened at $7.21 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.11. Arteris, Inc. has a 1-year low of $4.20 and a 1-year high of $9.54. The firm’s fifty day simple moving average is $7.82 and its 200-day simple moving average is $6.95.

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

Institutional Trading of Arteris

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of Arteris by 8.3% in the third quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock valued at $846,000 after purchasing an additional 10,000 shares during the last quarter. Algert Global LLC acquired a new stake in Arteris in the 3rd quarter valued at approximately $142,000. Worth Venture Partners LLC increased its position in Arteris by 22.6% in the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock worth $334,000 after buying an additional 9,448 shares during the period. Citigroup Inc. bought a new position in Arteris in the 3rd quarter worth approximately $363,000. Finally, Acuitas Investments LLC lifted its holdings in shares of Arteris by 150.3% during the fourth quarter. Acuitas Investments LLC now owns 215,991 shares of the company’s stock worth $1,272,000 after buying an additional 129,692 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIP has been the topic of several analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price (down from $11.00) on shares of Arteris in a research report on Monday, May 13th. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of Arteris in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.40.

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.