Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 106,031 Shares

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 106,031 shares of Arteris stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $17.21, for a total transaction of $1,824,793.51. Following the transaction, the director directly owned 393,690 shares in the company, valued at $6,775,404.90. This represents a 21.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The stock was sold at an average price of $17.02, for a total transaction of $62,803.80.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total value of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The stock was sold at an average price of $17.14, for a total value of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The stock was sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Trading Up 1.7%

Shares of AIP traded up $0.28 during trading hours on Wednesday, reaching $16.46. 539,469 shares of the company’s stock traded hands, compared to its average volume of 492,893. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85. The stock has a market cap of $748.39 million, a PE ratio of -20.07 and a beta of 1.45. The firm’s 50 day simple moving average is $15.90 and its 200-day simple moving average is $13.81.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on AIP. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research note on Friday, February 13th. Finally, Northland Securities set a $24.00 price objective on Arteris in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arteris has a consensus rating of “Hold” and a consensus price target of $20.17.

Hedge Funds Weigh In On Arteris

A number of institutional investors have recently modified their holdings of AIP. Worth Venture Partners LLC acquired a new position in shares of Arteris during the 2nd quarter worth approximately $451,000. Franklin Resources Inc. boosted its position in shares of Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after acquiring an additional 142,936 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Arteris in the 2nd quarter valued at about $254,000. Squarepoint Ops LLC raised its position in shares of Arteris by 143.8% during the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after buying an additional 71,340 shares during the period. Finally, XTX Topco Ltd acquired a new position in Arteris in the second quarter valued at approximately $405,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.