Insider Selling: Arteris (NASDAQ:AIP) Director Sells $2,100,700.00 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 70,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $30.01, for a total transaction of $2,100,700.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, June 3rd, Saiyed Atiq Raza sold 20,839 shares of Arteris stock. The stock was sold at an average price of $37.39, for a total transaction of $779,170.21.
• On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The shares were sold at an average price of $36.02, for a total value of $2,521,400.00.

Arteris Stock Down 3.6%

Shares of Arteris stock traded down $1.16 on Wednesday, reaching $30.93. The company’s stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The firm’s fifty day simple moving average is $36.29 and its two-hundred day simple moving average is $25.97. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Equities analysts anticipate that Arteris, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AIP shares. TD Cowen lifted their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Jefferies Financial Group lifted their price objective on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Finally, Rosenblatt Securities upped their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arteris presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. bought a new stake in shares of Arteris during the 2nd quarter valued at $32,000. Versant Capital Management Inc lifted its position in Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Arteris by 75.0% during 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. Royal Bank of Canada grew its holdings in Arteris by 366.7% during the first 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. Finally, Strs Ohio purchased a new stake in Arteris in the first quarter worth about $104,000. 64.36% of the stock is currently owned by institutional investors.

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.