Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 73,894 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 73,894 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $30.00, for a total transaction of $2,216,820.00. Following the sale, the chief executive officer directly owned 8,355,177 shares of the company’s stock, valued at approximately $250,655,310. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

K Charles Janac also recently made the following trade(s):

• On Tuesday, August 4th, K Charles Janac sold 26,106 shares of Arteris stock. The stock was sold at an average price of $31.97, for a total transaction of $834,608.82.
• On Monday, July 6th, K Charles Janac sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Monday, July 6th, K Charles Janac sold 10,679 shares of Arteris stock. The shares were sold at an average price of $35.90, for a total transaction of $383,376.10.
• On Thursday, July 2nd, K Charles Janac sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total value of $6,998,355.52.
• On Thursday, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The stock was sold at an average price of $38.78, for a total value of $422,779.56.
• On Monday, June 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total value of $2,443,700.00.
• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total value of $2,184,000.00.

Arteris Price Performance

Shares of NASDAQ:AIP opened at $30.93 on Thursday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96. The business has a 50 day moving average price of $36.17 and a 200 day moving average price of $26.06. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26.

Arteris (NASDAQ:AIP) last issued 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 business had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. Research analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on AIP shares. Oppenheimer initiated coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price for the company. Northland Securities set a $38.00 price target on shares of Arteris in a research report on Wednesday, May 13th. Roth Capital began coverage on shares of Arteris in a research report on Tuesday. They set a “buy” rating and a $40.00 price objective for the company. Rosenblatt Securities lifted their target price on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their price target on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Arteris presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Institutional Investors Weigh In On Arteris

A number of large investors have recently bought and sold shares of AIP. Versant Capital Management Inc boosted its position in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after buying an additional 290 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Arteris by 9.3% during the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after acquiring an additional 1,148 shares during the period. 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 valued at $328,000 after acquiring an additional 1,504 shares during the last quarter. BNP Paribas Financial Markets increased its position 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 purchasing an additional 2,595 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after purchasing an additional 2,613 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors.

Key Headlines Impacting Arteris

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

About Arteris

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.