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

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

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 value 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 value 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 value 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 transaction 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 transaction of $18,465.72.
• On Wednesday, October 8th, K Charles Janac sold 50,000 shares of Arteris stock. The stock was sold at an average price of $13.07, for a total transaction of $653,500.00.

Arteris Stock Performance

Shares of AIP stock opened at $17.58 on Wednesday. The firm has a market cap of $767.89 million, a price-to-earnings 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. The firm’s 50-day simple moving average is $15.20 and its two-hundred day simple moving average is $12.01.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. Analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIP. Jefferies Financial Group raised Arteris to a “hold” rating in a research report on Tuesday, October 28th. TD Cowen increased their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Monday, December 15th. Cowen restated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.50.

Hedge Funds Weigh In On Arteris

Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Arteris by 12.3% during the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after buying an additional 2,613 shares during the period. Strs Ohio increased its position in shares of Arteris by 16.5% during the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after buying an additional 2,900 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Arteris in the second quarter worth about $32,000. Finally, Franklin Resources Inc. boosted its position in shares of Arteris by 0.3% in the third quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after acquiring an additional 4,214 shares during the period. 64.36% of the stock is currently 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.