Arteris (NASDAQ:AIP) Director Sells $62,803.80 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 3,690 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $62,803.80. Following the sale, the director owned 390,000 shares in the company, valued at approximately $6,637,800. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 transaction of $1,824,793.51.
• 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 transaction 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 transaction 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 Stock Performance

Shares of NASDAQ AIP opened at $14.52 on Friday. The firm has a 50 day moving average price of $15.87 and a two-hundred day moving average price of $13.86. The stock has a market cap of $660.22 million, a P/E ratio of -17.71 and a beta of 1.45. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $19.85.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. Analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

Several large investors have recently modified their holdings of AIP. Invesco Ltd. raised its stake in Arteris by 28.0% during the fourth quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock worth $271,000 after buying an additional 3,830 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Arteris during the fourth quarter valued at $162,000. VestGen Advisors LLC bought a new stake in Arteris during the fourth quarter valued at $218,000. Tudor Investment Corp ET AL acquired a new stake in Arteris during the 4th quarter worth about $2,473,000. Finally, Numerai GP LLC acquired a new stake in Arteris during the 4th quarter worth about $390,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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