K Charles Janac Sells 70,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 70,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00. Following the completion of the sale, the chief executive officer owned 9,049,071 shares of the company’s stock, valued at approximately $282,331,015.20. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The shares were sold at an average price of $18.03, for a total transaction of $126,426.36.
• On Tuesday, March 10th, K Charles Janac sold 9,000 shares of Arteris stock. The stock was sold at an average price of $14.66, for a total transaction of $131,940.00.
• On Monday, March 9th, K Charles Janac sold 41,000 shares of Arteris stock. The shares were sold at an average price of $14.21, for a total transaction of $582,610.00.

Arteris Trading Down 2.1%

NASDAQ AIP traded down $0.70 on Tuesday, reaching $32.43. The company’s stock had a trading volume of 1,255,190 shares, compared to its average volume of 551,675. Arteris, Inc. has a 52 week low of $6.88 and a 52 week high of $33.46. The firm has a market cap of $1.49 billion, a PE ratio of -39.55 and a beta of 1.93. The business has a 50-day moving average price of $20.06 and a 200 day moving average price of $17.01.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. Analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AIP has been the subject of a number of analyst reports. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Monday, April 20th. Finally, Northland Securities set a $24.00 price objective on Arteris in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AIP. Raymond James Financial Inc. acquired a new stake in shares of Arteris during the second quarter worth $32,000. 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. New York State Common Retirement Fund increased its stake in Arteris by 352.4% in the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after purchasing an additional 7,400 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Arteris during the fourth quarter worth $162,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Arteris in the 3rd quarter valued at $109,000. Institutional investors and hedge funds 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.