Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 125,976 Shares

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 125,976 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $35.79, for a total value of $4,508,681.04. Following the completion of the sale, the chief executive officer owned 8,429,071 shares in the company, valued at $301,676,451.09. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, July 6th, K Charles Janac sold 10,679 shares of Arteris stock. The stock was sold at an average price of $35.90, for a total transaction of $383,376.10.
• On Thursday, July 2nd, K Charles Janac sold 192,686 shares of Arteris stock. The stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Thursday, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The shares were sold at an average price of $38.78, for a total transaction of $422,779.56.
• On Monday, June 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Stock Performance

Arteris stock traded up $3.14 during mid-day trading on Wednesday, reaching $34.46. The company’s stock had a trading volume of 1,084,650 shares, compared to its average volume of 755,391. The firm’s fifty day moving average price is $36.62 and its two-hundred day moving average price is $23.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. Arteris, Inc. has a 12-month low of $8.42 and a 12-month high of $50.26. The company has a market capitalization of $1.59 billion, a P/E ratio of -43.62 and a beta of 1.92.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Sell-side analysts predict that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. bought a new stake in shares of Arteris during the 2nd quarter valued at about $32,000. Versant Capital Management Inc increased its position in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after purchasing an additional 290 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares in the last quarter. Royal Bank of Canada raised its stake in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after purchasing an additional 3,161 shares in the last quarter. Finally, Strs Ohio bought a new stake in Arteris during the first quarter valued at approximately $104,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AIP shares. Weiss Ratings lowered Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Jefferies Financial Group raised their price objective on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen increased their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities raised their price target on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.75.

Arteris Company Profile

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.