Arteris (NASDAQ:AIP) CEO Sells $230,605.76 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Janac sold 9,359 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $24.64, for a total value of $230,605.76. Following the completion of the sale, the chief executive officer directly owned 165,789 shares of the company’s stock, valued at $4,085,040.96. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, October 1st, K Janac sold 100,000 shares of Arteris stock. The shares were sold at an average price of $23.82, for a total transaction of $2,382,000.00.
• On Tuesday, September 1st, K Janac sold 100,000 shares of Arteris stock. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00.
• On Tuesday, August 4th, K Janac sold 26,106 shares of Arteris stock. The stock was 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 transaction of $2,216,820.00.

Arteris Trading Down 2.8%

AIP stock traded down $0.69 during mid-day trading on Monday, hitting $23.97. 784,618 shares of the company were exchanged, compared to its average volume of 730,172. Arteris, Inc. has a 12-month low of $12.06 and a 12-month high of $50.26. The firm has a market capitalization of $1.18 billion, a P/E ratio of -27.55 and a beta of 1.90. The business has a fifty day simple moving average of $24.86 and a 200-day simple moving average of $28.55. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The company had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. On average, equities research analysts predict 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 several analyst reports. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $50.00 in a research report on Friday, August 7th. Oppenheimer assumed coverage on Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Roth Capital initiated coverage on shares of Arteris in a report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Craig Hallum initiated coverage on Arteris in a research report on Monday, September 21st. They issued a “buy” rating and a $30.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arteris currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.43.

Institutional Investors Weigh In On Arteris

A number of large investors have recently bought and sold shares of AIP. Needham Investment Management LLC lifted its stake in shares of Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the period. BlackRock Inc. purchased a new stake in shares of Arteris in the second quarter valued at $160,129,000. Granahan Investment Management LLC lifted its position in Arteris by 201.0% during the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after buying an additional 476,181 shares during the period. Wellington Management Group LLP boosted its stake in Arteris by 0.4% in the 2nd quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock worth $24,305,000 after buying an additional 1,897 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Arteris in the 2nd quarter valued at about $11,602,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

About Arteris

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.