Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 70,000 Shares

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 70,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.01, for a total transaction of $2,100,700.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, June 3rd, Saiyed Atiq Raza sold 20,839 shares of Arteris stock. The stock was sold at an average price of $37.39, for a total value of $779,170.21.
• On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The stock was sold at an average price of $36.02, for a total value of $2,521,400.00.

Arteris Stock Performance

Shares of NASDAQ AIP opened at $30.93 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $36.17 and its 200-day moving average price is $26.06. Arteris, Inc. has a 52-week low of $8.42 and a 52-week high of $50.26. The company has a market cap of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. As a group, analysts anticipate that Arteris, Inc. will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Huntleigh Advisors Inc. bought a new position in Arteris in the 4th quarter worth about $1,832,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Arteris during the fourth quarter valued at approximately $1,914,000. Needham Investment Management LLC boosted its holdings in shares of Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after purchasing an additional 86,500 shares during the period. Lazard Asset Management LLC bought a new stake in Arteris during the 1st quarter valued at $2,124,000. Finally, Granahan Investment Management LLC lifted its holdings in shares of Arteris by 201.0% in the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after buying an additional 476,181 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AIP shares. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised their target price on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 price objective on shares of Arteris in a research report on Wednesday, May 13th. Oppenheimer began coverage on shares of Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Four equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

More Arteris News

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Roth Capital began coverage of Arteris with a Buy rating and a $40 price target, implying roughly 29% upside from the referenced $30.93 level. The initiation provides a new positive valuation signal for the semiconductor-design software company. Benzinga coverage
• Neutral Sentiment: The latest insider filings show that CEO K. Charles Janac and major shareholder Bayview Legacy each reported sales of 73,894 shares on August 3 at approximately $30.00 per share, followed by 26,106 shares on August 4 at approximately $31.97. Because the transactions appear in separate ownership filings, the reported figures should not necessarily be treated as entirely separate economic sales. CEO SEC filing
• Negative Sentiment: Additional insider selling included Director Saiyed Atiq Raza’s sale of 70,000 shares for about $2.1 million and Vice President Paul L. Alpern’s sale of 4,000 shares for roughly $120,000. The cluster of sales by senior executives and directors may pressure the stock by signaling that insiders are monetizing holdings, even though substantial ownership remains. Director SEC filing

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.