Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 90,000 Shares

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 90,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $28.71, for a total value of $2,583,900.00. Following the completion of the sale, the director directly owned 210,000 shares of the company’s stock, valued at approximately $6,029,100. This trade represents a 30.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total value of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total value of $1,616,350.40.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total value of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total value of $1,824,793.51.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The shares were 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 shares were 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 shares were sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Stock Down 0.3%

Shares of NASDAQ AIP traded down $0.10 during midday trading on Monday, reaching $28.85. The company had a trading volume of 685,826 shares, compared to its average volume of 520,823. The stock has a market cap of $1.33 billion, a PE ratio of -35.18 and a beta of 1.93. Arteris, Inc. has a one year low of $6.64 and a one year high of $29.50. The firm’s fifty day moving average price is $18.51 and its 200-day moving average price is $16.40.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. As a group, equities research analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio grew its holdings in shares of Arteris by 65.9% during the 1st quarter. Strs Ohio now owns 34,000 shares of the company’s stock worth $559,000 after acquiring an additional 13,500 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Arteris during the 1st quarter worth approximately $559,000. Invesco Ltd. grew its holdings in shares of Arteris by 28.0% during the 4th quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock worth $271,000 after acquiring an additional 3,830 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Arteris during the 4th quarter worth approximately $162,000. Finally, VestGen Advisors LLC purchased a new position in shares of Arteris during the 4th quarter worth approximately $218,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AIP shares. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a report on Saturday. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Northland Securities set a $24.00 price objective on shares of Arteris in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Monday, April 20th. Two equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.17.

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.