Arteris (NASDAQ:AIP) CEO Sells $2,075,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Janac sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00. Following the transaction, the chief executive officer directly owned 8,229,071 shares in the company, valued at $170,753,223.25. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, August 4th, K Janac sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total value of $834,608.82.
• On Monday, August 3rd, K Janac sold 73,894 shares of Arteris stock. The shares were sold at an average price of $30.00, for a total value of $2,216,820.00.
• On Monday, July 6th, K Janac sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Monday, July 6th, K Janac sold 10,679 shares of Arteris stock. The stock was sold at an average price of $35.90, for a total transaction of $383,376.10.
• On Thursday, July 2nd, K Janac sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Thursday, July 2nd, K Janac sold 10,902 shares of Arteris stock. The shares were sold at an average price of $38.78, for a total transaction of $422,779.56.
• On Monday, June 8th, K Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00.

Arteris Stock Performance

Shares of NASDAQ AIP traded down $0.16 during mid-day trading on Thursday, reaching $20.68. 624,268 shares of the company were exchanged, compared to its average volume of 734,831. The stock has a market capitalization of $1.02 billion, a P/E ratio of -23.77 and a beta of 1.91. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $30.68 and its 200-day simple moving average is $27.41. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. As a group, research analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Oppenheimer initiated coverage on Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Roth Capital began coverage on Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Hedge Funds Weigh In On Arteris

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Arteris in the 2nd quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Arteris during the 2nd quarter worth $53,000. Versant Capital Management Inc increased its position in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the period. BNP Paribas Financial Markets increased its position in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the period. Finally, Royal Bank of Canada raised its stake in Arteris by 366.7% in 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 in the last quarter. Institutional investors own 64.36% of the company’s stock.

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.