Insider Selling: Arteris (NASDAQ:AIP) CEO Sells $2,382,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Janac sold 100,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $23.82, for a total transaction of $2,382,000.00. Following the completion of the transaction, the chief executive officer directly owned 8,129,071 shares in the company, valued at $193,634,471.22. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Monday, October 5th, K Janac sold 11,452 shares of Arteris stock. The shares were sold at an average price of $24.27, for a total transaction of $277,940.04.
• On Friday, October 2nd, K Janac sold 9,359 shares of Arteris stock. The stock was sold at an average price of $24.64, for a total transaction of $230,605.76.
• On Tuesday, September 1st, K Janac sold 100,000 shares of Arteris stock. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00.
• 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.

Arteris Trading Down 3.0%

Shares of AIP stock opened at $23.40 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $24.57 and a two-hundred day moving average price of $28.72. Arteris, Inc. has a 12-month low of $12.06 and a 12-month high of $50.26. The firm has a market cap of $1.15 billion, a P/E ratio of -26.90 and a beta of 1.90.

Arteris (NASDAQ:AIP) last posted 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 analysts’ expectations of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. Equities analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AIP shares. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Craig Hallum started coverage on shares of Arteris in a report on Monday, September 21st. They issued a “buy” rating and a $30.00 price objective for the company. Roth Capital assumed coverage on shares of Arteris in a research note 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 increased their target price for the company from $35.00 to $50.00 in a report on Friday, August 7th. Finally, Oppenheimer initiated coverage on shares of Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.43.

Hedge Funds Weigh In On Arteris

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Arteris during the second quarter valued at approximately $160,129,000. Needham Investment Management LLC raised its holdings in Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the last quarter. Wellington Management Group LLP raised its holdings in Arteris by 0.4% during the 2nd quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock valued at $24,305,000 after buying an additional 1,897 shares during the last quarter. Granahan Investment Management LLC boosted its position in Arteris by 201.0% during the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after buying an additional 476,181 shares during the period. Finally, Algert Global LLC bought a new stake in Arteris in the 2nd quarter worth $11,602,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Arteris News Summary

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Arteris secured an additional $3.3 million through the Trusted and Assured Microelectronics program to expand its third-party semiconductor IP security-assurance initiative with BAE Systems and SiFive. The program could strengthen Arteris’ position in secure chip design, government projects and advanced semiconductor supply chains. Arteris funding announcement
• Positive Sentiment: Oppenheimer maintained its Buy rating on Arteris, providing continued support from Wall Street despite recent selling pressure. Oppenheimer rating report
• Neutral Sentiment: CEO K. Charles Janac, COO Laurent Moll and VP Paul Alpern reported multiple sales of vested shares. Several transactions were made to cover tax-withholding obligations, making them a weaker signal of declining management confidence; however, the repeated executive selling may still weigh on short-term sentiment. Arteris insider trading report
• Negative Sentiment: Bayview Legacy LLC sold 100,000 shares for roughly $2.38 million. Because the filing did not identify tax withholding as the reason, the sale may raise concerns about additional stock supply and investor conviction. Bayview Legacy share sale
• Negative Sentiment: Arteris’ latest reported quarter included an adjusted loss of $0.10 per share, worse than the expected $0.04 loss. Although revenue exceeded forecasts, the company remains loss-making, with analysts expecting a full-year loss.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.