K Charles Janac Sells 7,823 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 7,823 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $15.45, for a total transaction of $120,865.35. Following the completion of the sale, the chief executive officer owned 150,632 shares of the company’s stock, valued at $2,327,264.40. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

K Charles Janac also recently made the following trade(s):

• On Monday, December 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $17.71, for a total transaction of $1,239,700.00.
• On Friday, December 5th, K Charles Janac sold 60,000 shares of Arteris stock. The shares were sold at an average price of $17.08, for a total transaction of $1,024,800.00.
• On Thursday, December 4th, K Charles Janac sold 40,000 shares of Arteris stock. The stock was sold at an average price of $16.46, for a total transaction of $658,400.00.
• On Wednesday, December 3rd, K Charles Janac sold 2,058 shares of Arteris stock. The stock was sold at an average price of $15.52, for a total value of $31,940.16.
• On Tuesday, December 2nd, K Charles Janac sold 1,246 shares of Arteris stock. The shares were sold at an average price of $14.82, for a total value of $18,465.72.
• On Wednesday, October 8th, K Charles Janac sold 50,000 shares of Arteris stock. The shares were sold at an average price of $13.07, for a total value of $653,500.00.

Arteris Price Performance

Arteris stock traded up $1.35 during trading on Tuesday, reaching $17.58. 675,497 shares of the company were exchanged, compared to its average volume of 505,861. The stock’s 50 day simple moving average is $15.12 and its two-hundred day simple moving average is $11.95. The company has a market capitalization of $767.89 million, a P/E ratio of -21.18 and a beta of 1.48. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $19.85.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million during the quarter, compared to analyst estimates of $17.00 million. As a group, equities analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on AIP. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a research note on Tuesday, October 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Monday, December 15th. TD Cowen raised their target price on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Institutional Trading of Arteris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ieq Capital LLC purchased a new position in shares of Arteris during the first quarter worth $177,000. AQR Capital Management LLC purchased a new stake in shares of Arteris in the 1st quarter valued at $1,621,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Arteris by 48.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 249,517 shares of the company’s stock valued at $1,724,000 after buying an additional 81,516 shares during the period. Acadian Asset Management LLC lifted its stake in Arteris by 40.6% during the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after acquiring an additional 260,277 shares in the last quarter. Finally, Strs Ohio purchased a new position in Arteris during the 1st quarter valued at about $104,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

About Arteris

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.