K Charles Janac Sells 26,106 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 26,106 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the completion of the sale, the chief executive officer owned 8,329,071 shares of the company’s stock, valued at approximately $266,280,399.87. This trade represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 3rd, K Charles Janac sold 73,894 shares of Arteris stock. The shares were sold at an average price of $30.00, for a total value of $2,216,820.00.
• 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 value of $4,508,681.04.
• On Monday, July 6th, K Charles Janac sold 10,679 shares of Arteris stock. The stock was 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 stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Thursday, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The shares were sold at an average price of $38.78, for a total transaction of $422,779.56.
• On Monday, June 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Price Performance

Shares of AIP traded down $1.16 during mid-day trading on Wednesday, hitting $30.93. The company’s stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50-day moving average price of $36.29 and a 200 day moving average price of $25.97. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, research analysts predict that Arteris, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIP has been the subject of a number of recent research reports. Oppenheimer started coverage on Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective for the company. Jefferies Financial Group lifted their target price on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.50.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently made changes to their positions in AIP. AQR Capital Management LLC acquired a new position in Arteris in the 1st quarter worth approximately $1,621,000. Strs Ohio acquired a new stake in Arteris during the 1st quarter valued at $104,000. Geode Capital Management LLC raised its stake in Arteris by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after purchasing an additional 30,018 shares during the period. Rhumbline Advisers lifted its holdings in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after purchasing an additional 14,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Arteris by 8.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after purchasing an additional 25,448 shares in the last quarter. Hedge funds and other institutional investors 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.