Insider Selling: Arteris (NASDAQ:AIP) CEO Sells $2,075,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Janac sold 100,000 shares of Arteris stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the completion of the sale, the chief executive officer directly owned 8,229,071 shares in the company, valued at $170,753,223.25. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, August 4th, K Janac sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total value of $834,608.82.
• On Monday, August 3rd, K 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 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 Janac sold 10,679 shares of Arteris stock. The shares were sold at an average price of $35.90, for a total value of $383,376.10.
• On Thursday, July 2nd, K Janac sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total value of $6,998,355.52.
• On Thursday, July 2nd, K Janac sold 10,902 shares of Arteris stock. The shares were sold at an average price of $38.78, for a total value of $422,779.56.
• On Monday, June 8th, K 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.

Arteris Trading Up 3.3%

Shares of AIP opened at $21.37 on Friday. The business has a 50-day moving average of $29.78 and a 200 day moving average of $27.41. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The firm has a market cap of $1.05 billion, a P/E ratio of -24.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. As a group, research analysts forecast that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Investors Weigh In On Arteris

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Arteris in the second quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Arteris during the 2nd quarter worth approximately $53,000. Versant Capital Management Inc lifted its stake in Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings 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 purchasing an additional 3,161 shares during the period. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIP. Roth Capital assumed coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective for the company. Jefferies Financial Group raised shares of Arteris from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $50.00 in a report on Friday, August 7th. Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 price target on shares of Arteris in a report on Friday, August 7th. Finally, Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arteris presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.