Saiyed Atiq Raza Sells 106,031 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 106,031 shares of Arteris stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $17.21, for a total value of $1,824,793.51. Following the completion of the sale, the director owned 393,690 shares in the company, valued at $6,775,404.90. This represents a 21.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The stock was sold at an average price of $17.02, for a total value of $62,803.80.
• 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 value of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The stock was sold at an average price of $17.14, for a total value of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The stock was sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Stock Up 1.7%

Arteris stock traded up $0.28 during mid-day trading on Wednesday, hitting $16.46. The company had a trading volume of 539,469 shares, compared to its average volume of 492,893. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $19.85. The stock has a market cap of $748.39 million, a price-to-earnings ratio of -20.07 and a beta of 1.45. The business has a fifty day moving average of $15.90 and a 200 day moving average of $13.81.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AIP. Northland Securities set a $24.00 price target on shares of Arteris in a research report on Friday, February 13th. TD Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.17.

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Worth Venture Partners LLC bought a new position in Arteris in the 2nd quarter valued at $451,000. Franklin Resources Inc. grew its stake in shares of Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after acquiring an additional 142,936 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Arteris during the second quarter valued at approximately $254,000. Squarepoint Ops LLC grew its position in shares of Arteris by 143.8% in the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after acquiring an additional 71,340 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Arteris during the 2nd quarter valued at $405,000. Institutional investors own 64.36% of the company’s stock.

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.