Arteris (NASDAQ:AIP) CEO Sells $131,940.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 9,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $14.66, for a total value of $131,940.00. Following the transaction, the chief executive officer owned 9,229,071 shares in the company, valued at $135,298,180.86. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 9th, K Charles Janac sold 41,000 shares of Arteris stock. The stock was sold at an average price of $14.21, for a total value of $582,610.00.
• On Tuesday, February 10th, K Charles Janac sold 2,756 shares of Arteris stock. The shares were sold at an average price of $15.03, for a total transaction of $41,422.68.
• On Monday, February 9th, K Charles Janac sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total transaction of $718,581.24.
• On Thursday, January 15th, K Charles Janac sold 17,884 shares of Arteris stock. The stock was sold at an average price of $17.84, for a total transaction of $319,050.56.
• On Tuesday, January 13th, K Charles Janac sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total transaction of $37,643.64.
• On Thursday, January 8th, K Charles Janac sold 50,000 shares of Arteris stock. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00.
• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The stock was sold at an average price of $16.90, for a total transaction of $188,350.50.
• On Friday, January 2nd, K Charles Janac sold 7,823 shares of Arteris stock. The shares were sold at an average price of $15.45, for a total transaction of $120,865.35.

Arteris Stock Up 2.4%

Shares of NASDAQ AIP traded up $0.37 during trading on Wednesday, hitting $15.62. 430,133 shares of the company traded hands, compared to its average volume of 490,737. The firm has a market capitalization of $710.24 million, a P/E ratio of -19.05 and a beta of 1.45. The company has a 50-day moving average price of $15.84 and a 200-day moving average price of $14.00. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $19.85.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. Research analysts predict that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Finally, Northland Securities set a $24.00 price target on shares of Arteris in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Needham Investment Management LLC boosted its position 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 worth $52,878,000 after buying an additional 86,500 shares during the period. Franklin Resources Inc. grew its stake in shares of Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after buying an additional 101,646 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after buying an additional 120,947 shares during the period. Westerly Capital Management LLC lifted its position in Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after acquiring an additional 598,840 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.