Arteris (NASDAQ:AIP) Director Raman Chitkara Sells 5,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Raman Chitkara sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $20.05, for a total transaction of $100,250.00. Following the completion of the sale, the director directly owned 152,867 shares in the company, valued at $3,064,983.35. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Arteris Stock Performance

Arteris stock opened at $21.52 on Friday. The company’s 50 day simple moving average is $16.42 and its 200-day simple moving average is $15.43. The company has a market capitalization of $978.51 million, a price-to-earnings ratio of -26.24 and a beta of 1.43. Arteris, Inc. has a 1 year low of $5.64 and a 1 year high of $21.57.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. Equities analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new position in Arteris during the 2nd quarter worth approximately $32,000. BNP Paribas Financial Markets grew its holdings in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares in the last quarter. Strs Ohio acquired a new position in Arteris during the 1st quarter worth approximately $104,000. Penn Capital Management Company LLC acquired a new position in Arteris during the 3rd quarter worth approximately $109,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Arteris during the 3rd quarter worth approximately $113,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Northland Securities set a $24.00 price target on shares of Arteris in a research note on Friday, February 13th. Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arteris currently has an average rating of “Hold” and a consensus target price of $20.17.

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.