Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 70,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 70,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.02, for a total transaction of $2,521,400.00. Following the completion of the transaction, the director owned 140,000 shares of the company’s stock, valued at $5,042,800. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The shares were sold at an average price of $28.71, for a total transaction of $2,583,900.00.
• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $1,616,350.40.

Arteris Stock Down 1.4%

Shares of Arteris stock opened at $37.41 on Thursday. Arteris, Inc. has a 1-year low of $7.56 and a 1-year high of $38.99. The company has a market capitalization of $1.73 billion, a PE ratio of -47.35 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The business has a 50-day moving average of $26.95 and a 200-day moving average of $19.63.

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

Institutional Investors Weigh In On Arteris

A number of institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of Arteris by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock valued at $1,758,000 after acquiring an additional 10,062 shares during the last quarter. Royal Bank of Canada boosted its holdings in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after purchasing an additional 3,161 shares during the period. Quantinno Capital Management LP boosted its holdings in Arteris by 21.5% in the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock worth $297,000 after purchasing an additional 3,200 shares during the period. Lazard Asset Management LLC acquired a new position in Arteris in the first quarter worth $2,124,000. Finally, Granahan Investment Management LLC boosted its holdings in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after purchasing an additional 476,181 shares during the period. 64.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.