Saiyed Atiq Raza Sells 72,940 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 72,940 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $22.16, for a total transaction of $1,616,350.40. Following the transaction, the director owned 317,060 shares in the company, valued at $7,026,049.60. This represents a 18.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $378,049.60.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total transaction of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total transaction of $1,824,793.51.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The shares were sold at an average price of $17.01, for a total transaction of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total transaction of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Stock Up 2.9%

NASDAQ AIP opened at $24.27 on Thursday. Arteris, Inc. has a 52 week low of $6.03 and a 52 week high of $24.68. The firm has a market capitalization of $1.10 billion, a P/E ratio of -29.60 and a beta of 1.43. The company has a 50-day moving average price of $17.07 and a 200-day moving average price of $15.82.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. As a group, equities research analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Investors Weigh In On Arteris

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Arteris during the 2nd quarter valued at approximately $32,000. BNP Paribas Financial Markets grew its holdings in 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 buying an additional 2,595 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after buying an additional 7,400 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Arteris during the 4th quarter valued at approximately $162,000. Finally, Penn Capital Management Company LLC purchased a new stake in Arteris during the 3rd quarter valued at approximately $109,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Monday. Northland Securities set a $24.00 target price on shares of Arteris in a report on Friday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Finally, Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.17.

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.