Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 192,686 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 192,686 shares of Arteris stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the chief executive officer owned 8,555,047 shares of the company’s stock, valued at $310,719,307.04. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 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 shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00.
• On Wednesday, April 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00.

Arteris Stock Performance

Shares of NASDAQ:AIP traded down $0.24 during trading on Monday, hitting $34.82. The company’s stock had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. 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 market cap of $1.61 billion, a price-to-earnings ratio of -44.08 and a beta of 1.92. The company has a 50-day moving average of $36.32 and a 200-day moving average of $23.54. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. On average, sell-side analysts expect that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Versant Capital Management Inc grew its stake in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after acquiring an additional 290 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Arteris in the second quarter valued at approximately $32,000. Royal Bank of Canada grew its stake in Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares during the period. BNP Paribas Financial Markets grew its position in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Finally, New York State Common Retirement Fund increased its stake 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 worth $147,000 after buying an additional 7,400 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AIP. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Rosenblatt Securities upped their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised their target price on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price target on shares of Arteris in a report on Wednesday, May 13th. Finally, TD Cowen increased their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.75.

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.