Arteris, Inc. (NASDAQ:AIP) Director Wayne C. Cantwell Sells 15,000 Shares

Arteris, Inc. (NASDAQ:AIP) Director Wayne C. Cantwell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.95, for a total transaction of $104,250.00. Following the transaction, the director now owns 243,198 shares in the company, valued at approximately $1,690,226.10. The sale was disclosed in a filing with the SEC, which is available at this link.

Arteris Stock Performance

Shares of AIP stock opened at $7.10 on Thursday. The stock has a market cap of $273.20 million, a PE ratio of -6.75 and a beta of 1.12. The business has a 50-day simple moving average of $7.85 and a 200-day simple moving average of $7.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 52-week low of $4.20 and a 52-week high of $9.54.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The company had revenue of $14.58 million during the quarter, compared to analyst estimates of $13.68 million. Arteris had a negative net margin of 68.37% and a negative return on equity of 274.66%. During the same period last year, the firm earned ($0.25) EPS. On average, equities analysts expect that Arteris, Inc. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Arteris

Several institutional investors and hedge funds have recently modified their holdings of AIP. Silvercrest Asset Management Group LLC increased its stake in shares of Arteris by 25.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company’s stock valued at $5,211,000 after purchasing an additional 143,385 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Arteris by 28.1% in the 1st quarter. Acadian Asset Management LLC now owns 534,472 shares of the company’s stock valued at $3,911,000 after purchasing an additional 117,312 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Arteris in the 2nd quarter valued at about $580,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Arteris in the 2nd quarter valued at about $554,000. Finally, Worth Venture Partners LLC increased its stake in shares of Arteris by 114.3% in the 4th quarter. Worth Venture Partners LLC now owns 109,921 shares of the company’s stock valued at $647,000 after purchasing an additional 58,620 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Westpark Capital restated a “buy” rating and set a $11.00 price target on shares of Arteris in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of Arteris in a 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.