Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 26,106 Shares

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 26,106 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.97, for a total value of $834,608.82. Following the sale, the chief executive officer owned 8,329,071 shares in the company, valued at $266,280,399.87. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, August 3rd, K Charles Janac sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total value of $2,216,820.00.
• On Monday, July 6th, K Charles Janac sold 125,976 shares of Arteris stock. The shares were sold at an average price of $35.79, for a total value of $4,508,681.04.
• On Monday, July 6th, K Charles 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 Charles Janac sold 192,686 shares of Arteris stock. The stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Thursday, July 2nd, K Charles 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 Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• 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 transaction of $2,184,000.00.

Arteris Stock Performance

AIP opened at $30.93 on Thursday. 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 business’s 50 day moving average is $36.17 and its 200-day moving average is $26.06. The stock has a market cap of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. On average, analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Arteris during the first quarter valued at about $1,621,000. Strs Ohio acquired a new position in Arteris during the first quarter worth about $104,000. Geode Capital Management LLC raised its position in Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after acquiring an additional 30,018 shares in the last quarter. Rhumbline Advisers raised its position in Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock worth $519,000 after acquiring an additional 14,350 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Arteris by 8.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after acquiring an additional 25,448 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Arteris

Here are the key news stories impacting Arteris this week:

• Positive Sentiment: Roth Capital began coverage of Arteris with a Buy rating and a $40 price target, implying roughly 29% upside from the referenced $30.93 level. The initiation provides a new positive valuation signal for the semiconductor-design software company. Benzinga coverage
• Neutral Sentiment: The latest insider filings show that CEO K. Charles Janac and major shareholder Bayview Legacy each reported sales of 73,894 shares on August 3 at approximately $30.00 per share, followed by 26,106 shares on August 4 at approximately $31.97. Because the transactions appear in separate ownership filings, the reported figures should not necessarily be treated as entirely separate economic sales. CEO SEC filing
• Negative Sentiment: Additional insider selling included Director Saiyed Atiq Raza’s sale of 70,000 shares for about $2.1 million and Vice President Paul L. Alpern’s sale of 4,000 shares for roughly $120,000. The cluster of sales by senior executives and directors may pressure the stock by signaling that insiders are monetizing holdings, even though substantial ownership remains. Director SEC filing

Analysts Set New Price Targets

A number of research analysts have recently commented on AIP shares. Jefferies Financial Group raised their price target on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings lowered shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Roth Capital started coverage on shares of Arteris in a research report on Tuesday. They set a “buy” rating and a $40.00 price target on the stock. Finally, TD Cowen upped their price target on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.50.

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.