Arteris (NASDAQ:AIP) CEO Sells $829,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 50,000 shares of Arteris stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $16.58, for a total value of $829,000.00. Following the sale, the chief executive officer directly owned 9,419,071 shares in the company, valued at approximately $156,168,197.18. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The stock was sold at an average price of $16.90, for a total transaction of $188,350.50.
• On Friday, January 2nd, K Charles Janac sold 7,823 shares of Arteris stock. The shares were sold at an average price of $15.45, for a total transaction of $120,865.35.
• On Monday, December 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $17.71, for a total transaction of $1,239,700.00.
• On Friday, December 5th, K Charles Janac sold 60,000 shares of Arteris stock. The stock was sold at an average price of $17.08, for a total value of $1,024,800.00.
• On Thursday, December 4th, K Charles Janac sold 40,000 shares of Arteris stock. The shares were sold at an average price of $16.46, for a total transaction of $658,400.00.
• On Wednesday, December 3rd, K Charles Janac sold 2,058 shares of Arteris stock. The shares were sold at an average price of $15.52, for a total transaction of $31,940.16.
• On Tuesday, December 2nd, K Charles Janac sold 1,246 shares of Arteris stock. The stock was sold at an average price of $14.82, for a total value of $18,465.72.

Arteris Stock Up 0.8%

NASDAQ AIP traded up $0.14 during trading hours on Monday, hitting $17.37. The company had a trading volume of 397,728 shares, compared to its average volume of 433,789. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm has a market cap of $758.72 million, a P/E ratio of -20.93 and a beta of 1.48. The business has a fifty day simple moving average of $15.41 and a 200-day simple moving average of $12.18.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. Equities analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

AIP has been the topic of several recent analyst reports. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research report on Monday, December 15th. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research report on Tuesday, October 28th. Cowen reissued a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, TD Cowen boosted their target price on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AIP. AQR Capital Management LLC acquired a new stake in Arteris during the 1st quarter worth about $1,621,000. Acadian Asset Management LLC boosted its holdings in shares of Arteris by 40.6% during the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after purchasing an additional 260,277 shares during the period. Strs Ohio acquired a new stake in shares of Arteris during the first quarter worth approximately $104,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Arteris during the second quarter worth approximately $104,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Arteris during the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.