Saiyed Atiq Raza Sells 20,839 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 20,839 shares of Arteris stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $37.39, for a total value of $779,170.21. Following the completion of the sale, the director owned 140,000 shares of the company’s stock, valued at $5,234,600. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The shares were sold at an average price of $36.02, for a total value of $2,521,400.00.
• On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00.
• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total transaction of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total value of $1,616,350.40.

Arteris Stock Performance

Arteris stock opened at $34.28 on Friday. The stock’s 50 day moving average price is $27.69 and its 200 day moving average price is $19.89. The firm has a market capitalization of $1.58 billion, a PE ratio of -43.39 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. Arteris, Inc. has a one year low of $7.65 and a one year high of $38.99.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. As a group, sell-side analysts expect that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

AIP has been the subject of a number of recent research reports. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Jefferies Financial Group upped their price objective on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price objective on Arteris in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities increased their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Two 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. Based on data from MarketBeat.com, Arteris presently has a consensus rating of “Hold” and an average target price of $37.75.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. purchased a new stake in Arteris in the 2nd quarter worth about $32,000. BNP Paribas Financial Markets lifted its stake in Arteris by 75.0% in the 3rd 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. Royal Bank of Canada lifted its stake in Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares in the last quarter. Strs Ohio purchased a new stake in Arteris in the 1st quarter worth about $104,000. Finally, Penn Capital Management Company LLC purchased a new stake in Arteris in the 3rd quarter worth about $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.