Arteris (NASDAQ:AIP) CEO Sells $2,382,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Janac sold 100,000 shares of Arteris stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $23.82, for a total transaction of $2,382,000.00. Following the sale, the chief executive officer owned 8,129,071 shares in the company, valued at approximately $193,634,471.22. The trade was a 1.22% decrease in their position. The transaction 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 Friday, October 2nd, K Janac sold 9,359 shares of Arteris stock. The stock was sold at an average price of $24.64, for a total transaction of $230,605.76.
• 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 transaction of $2,075,000.00.
• On Tuesday, August 4th, K Janac sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total transaction of $834,608.82.
• On Monday, August 3rd, K Janac sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total transaction of $2,216,820.00.

Arteris Price Performance

Shares of AIP traded down $0.69 during midday trading on Monday, hitting $23.97. 784,618 shares of the company traded hands, compared to its average volume of 730,172. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -27.55 and a beta of 1.90. The firm has a 50 day moving average of $24.86 and a 200-day moving average of $28.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Arteris, Inc. has a 52 week low of $12.06 and a 52 week high of $50.26.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. On average, analysts forecast that Arteris, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Arteris

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Needham Investment Management LLC lifted its position in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after buying an additional 86,500 shares in the last quarter. Sei Investments Co. grew its holdings in Arteris by 43.1% in the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after buying an additional 51,279 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arteris by 12,206.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,891 shares of the company’s stock valued at $7,672,000 after buying an additional 156,608 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Arteris in the 2nd quarter worth $4,779,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Arteris in the 2nd quarter worth $3,132,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on AIP shares. Oppenheimer initiated coverage on shares of Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, Craig Hallum assumed coverage on shares of Arteris in a research note on Monday, September 21st. They issued a “buy” rating and a $30.00 price objective on the stock. 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 an average target price of $39.43.

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.