Raman Chitkara Sells 5,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Raman Chitkara sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $30.05, for a total value of $150,250.00. Following the completion of the sale, the director directly owned 142,867 shares of the company’s stock, valued at approximately $4,293,153.35. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Raman Chitkara also recently made the following trade(s):

• On Friday, April 24th, Raman Chitkara sold 5,000 shares of Arteris stock. The shares were sold at an average price of $25.06, for a total value of $125,300.00.
• On Tuesday, April 14th, Raman Chitkara sold 5,000 shares of Arteris stock. The shares were sold at an average price of $20.05, for a total value of $100,250.00.

Arteris Trading Up 7.1%

Shares of AIP opened at $31.86 on Friday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -38.85 and a beta of 1.93. The stock has a 50 day moving average of $19.44 and a 200 day moving average of $16.75. Arteris, Inc. has a 12 month low of $6.88 and a 12 month high of $32.11.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On Arteris

Large investors have recently added to or reduced their stakes in the business. Roubaix Capital LLC bought a new stake in Arteris during the third quarter worth about $2,361,000. Granahan Investment Management LLC lifted its stake in Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after purchasing an additional 546,341 shares during the last quarter. Herald Investment Management Ltd lifted its stake in Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock worth $4,036,000 after purchasing an additional 100,000 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Arteris by 59.3% during the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company’s stock worth $1,334,000 after purchasing an additional 49,153 shares during the last quarter. Finally, Huntleigh Advisors Inc. bought a new stake in Arteris during the fourth quarter worth about $1,832,000. Institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Monday, April 20th. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Northland Securities set a $24.00 price target on Arteris in a research report on Friday, February 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arteris currently has a consensus rating of “Hold” and an average target price of $20.17.

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.