Arteris (NASDAQ:AIP) CEO Sells $2,443,700.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $34.91, for a total value of $2,443,700.00. Following the sale, the chief executive officer owned 8,929,071 shares of the company’s stock, valued at approximately $311,713,868.61. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

K Charles Janac also recently made the following trade(s):

• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total value of $2,184,000.00.
• On Wednesday, April 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $19.04, for a total value of $1,332,800.00.
• On Thursday, April 2nd, K Charles Janac sold 9,009 shares of Arteris stock. The stock was sold at an average price of $17.65, for a total value of $159,008.85.
• On Monday, April 6th, K Charles Janac sold 11,800 shares of Arteris stock. The stock was sold at an average price of $18.34, for a total value of $216,412.00.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The stock was sold at an average price of $18.35, for a total value of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The stock was sold at an average price of $18.03, for a total value of $126,426.36.

Arteris Price Performance

NASDAQ:AIP opened at $41.00 on Friday. Arteris, Inc. has a 12 month low of $7.92 and a 12 month high of $41.56. The stock has a 50 day moving average of $29.64 and a two-hundred day moving average of $20.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.89 billion, a P/E ratio of -51.90 and a beta of 1.98.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. On average, analysts expect that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen boosted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Rosenblatt Securities boosted their target price on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group boosted their target price on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Two 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. According to MarketBeat, Arteris presently has an average rating of “Hold” and an average target price of $37.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in shares of Arteris by 10.4% during the 1st quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock worth $1,758,000 after purchasing an additional 10,062 shares during the last quarter. Royal Bank of Canada grew its position in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares during the period. Quantinno Capital Management LP grew its position in Arteris by 21.5% in the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock worth $297,000 after acquiring an additional 3,200 shares during the period. Lazard Asset Management LLC purchased a new position in Arteris in the first quarter worth approximately $2,124,000. Finally, Granahan Investment Management LLC grew its position in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after acquiring an additional 476,181 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.