Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 17,060 Shares

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 17,060 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $22.16, for a total transaction of $378,049.60. Following the completion of the sale, the director owned 300,000 shares in the company, valued at $6,648,000. This represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total transaction of $1,616,350.40.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The stock was sold at an average price of $17.02, for a total transaction of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The stock was sold at an average price of $17.21, for a total transaction of $1,824,793.51.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total transaction of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The stock was sold at an average price of $17.14, for a total transaction of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The stock was sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Stock Up 4.2%

Arteris stock opened at $23.58 on Wednesday. Arteris, Inc. has a 52 week low of $5.72 and a 52 week high of $24.10. The firm’s 50-day simple moving average is $16.88 and its 200 day simple moving average is $15.76. The firm has a market capitalization of $1.07 billion, a PE ratio of -28.76 and a beta of 1.43.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. On average, research analysts expect that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AIP. Westerly Capital Management LLC increased its stake in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after acquiring an additional 745,000 shares during the last quarter. Nuveen LLC increased its stake in shares of Arteris by 872.3% during the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock valued at $11,428,000 after acquiring an additional 661,454 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after acquiring an additional 598,840 shares during the last quarter. Granahan Investment Management LLC increased its stake in shares of Arteris by 725.7% during the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after acquiring an additional 546,341 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new position in shares of Arteris during the 4th quarter valued at about $5,755,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

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

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.