Arteris (NASDAQ:AIP) CEO Sells $131,940.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 9,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $14.66, for a total value of $131,940.00. Following the completion of the transaction, the chief executive officer owned 9,229,071 shares of the company’s stock, valued at $135,298,180.86. The trade was a 0.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, March 9th, K Charles Janac sold 41,000 shares of Arteris stock. The stock was sold at an average price of $14.21, for a total transaction of $582,610.00.
• On Tuesday, February 10th, K Charles Janac sold 2,756 shares of Arteris stock. The stock was sold at an average price of $15.03, for a total transaction of $41,422.68.
• On Monday, February 9th, K Charles Janac sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total transaction of $718,581.24.
• On Thursday, January 15th, K Charles Janac sold 17,884 shares of Arteris stock. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56.
• On Tuesday, January 13th, K Charles Janac sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total transaction of $37,643.64.
• On Thursday, January 8th, K Charles Janac sold 50,000 shares of Arteris stock. The stock was sold at an average price of $16.58, for a total transaction of $829,000.00.
• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The stock was sold at an average price of $16.90, for a total transaction of $188,350.50.
• On Friday, January 2nd, K Charles Janac sold 7,823 shares of Arteris stock. The shares were sold at an average price of $15.45, for a total transaction of $120,865.35.

Arteris Price Performance

Shares of AIP stock traded up $0.37 during midday trading on Wednesday, reaching $15.62. 430,133 shares of the company traded hands, compared to its average volume of 490,737. The firm’s 50 day simple moving average is $15.84 and its two-hundred day simple moving average is $14.00. The firm has a market cap of $710.24 million, a PE ratio of -19.05 and a beta of 1.45. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. As a group, research analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arteris

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Arteris during the second quarter worth approximately $32,000. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 2,595 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Arteris during the 2nd quarter worth $97,000. Strs Ohio purchased a new position in shares of Arteris during the 1st quarter worth $104,000. Finally, Penn Capital Management Company LLC acquired a new stake in shares of Arteris during the third quarter worth $109,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIP. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, Northland Securities set a $24.00 price target on shares of Arteris in a 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 issued a Sell rating to the company. Based on data from MarketBeat, the company 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.