Arteris (NASDAQ:AIP) Director Sells $1,616,350.40 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 72,940 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $22.16, for a total value of $1,616,350.40. Following the transaction, the director owned 317,060 shares in the company, valued at approximately $7,026,049.60. This represents a 18.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Saiyed Atiq Raza also recently made the following trade(s):

• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total value of $378,049.60.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total value of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total value of $1,824,793.51.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The shares were sold at an average price of $17.01, for a total value of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total value of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Stock Performance

AIP traded up $0.95 on Tuesday, hitting $23.58. The company had a trading volume of 710,122 shares, compared to its average volume of 484,818. The stock has a fifty day moving average price of $16.71 and a 200-day moving average price of $15.67. Arteris, Inc. has a 12-month low of $5.72 and a 12-month high of $24.10. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -28.76 and a beta of 1.43.

Arteris (NASDAQ:AIP) last posted its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. Analysts forecast that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

AIP has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Wall Street Zen raised Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Arteris in a report on Friday, February 13th. Finally, Northland Securities set a $24.00 price target on Arteris in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.17.

Institutional Investors Weigh In On Arteris

Several institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its holdings in Arteris by 9.3% in the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock worth $210,000 after acquiring an additional 1,148 shares in the last quarter. Deutsche Bank AG boosted its holdings in Arteris by 7.7% in the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock worth $328,000 after acquiring an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after acquiring an additional 2,613 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Arteris by 16.5% in the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock worth $207,000 after acquiring an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

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.