Insider Selling: Arteris (NASDAQ:AIP) Director Sells $378,049.60 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 17,060 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $22.16, for a total transaction of $378,049.60. Following the completion of the sale, the director directly owned 300,000 shares in the company, valued at approximately $6,648,000. This represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Saiyed Atiq Raza also recently made the following trade(s):

• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $1,616,350.40.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total transaction of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total transaction of $1,824,793.51.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The shares were sold at an average price of $17.01, for a total transaction of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total transaction of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Trading Up 0.2%

Shares of NASDAQ:AIP opened at $24.31 on Friday. Arteris, Inc. has a 52 week low of $6.23 and a 52 week high of $24.88. The company’s 50 day moving average is $17.25 and its two-hundred day moving average is $15.87. The company has a market cap of $1.12 billion, a PE ratio of -29.65 and a beta of 1.43.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. As a group, equities research analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets boosted its holdings in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after buying an additional 2,595 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Arteris by 352.4% in the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after buying an additional 7,400 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Arteris in the 4th quarter valued at $162,000. Finally, Penn Capital Management Company LLC acquired a new position 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.

Analysts Set New Price Targets

A number of brokerages have commented on AIP. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research report on Monday. Northland Securities set a $24.00 price objective on shares of Arteris in a research report on Friday, February 13th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.