Insider Selling: Arteris (NASDAQ:AIP) CEO Sells 7,012 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 7,012 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $18.03, for a total transaction of $126,426.36. Following the transaction, the chief executive officer owned 9,222,059 shares in the company, valued at $166,273,723.77. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The stock was sold at an average price of $18.35, for a total transaction of $605,329.80.
• On Tuesday, March 10th, K Charles Janac sold 9,000 shares of Arteris stock. The shares were sold at an average price of $14.66, for a total value of $131,940.00.
• 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 value 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 value 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 value 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 value of $319,050.56.
• On Tuesday, January 13th, K Charles Janac sold 2,116 shares of Arteris stock. The shares were sold at an average price of $17.79, for a total value 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 value 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 value 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 value of $120,865.35.

Arteris Trading Down 5.8%

Shares of AIP stock opened at $16.51 on Friday. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85. The stock has a market cap of $750.71 million, a PE ratio of -20.13 and a beta of 1.45. The company’s fifty day moving average price is $15.60 and its 200-day moving average price is $14.53.

Arteris (NASDAQ:AIP) last released its 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 business had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. On average, sell-side analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Arteris

Several institutional investors have recently bought and sold shares of the company. Needham Investment Management LLC grew its position in Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Franklin Resources Inc. raised its holdings in Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after buying an additional 101,646 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after buying an additional 120,947 shares in the last quarter. Westerly Capital Management LLC lifted its stake in shares of Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after buying an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after buying an additional 598,840 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AIP. Northland Securities set a $24.00 target price on shares of Arteris in a research note on Friday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target 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 note on Wednesday, January 21st. Finally, Wall Street Zen raised Arteris from a “hold” rating to a “buy” rating in a research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.