Arteris (NASDAQ:AIP) Director Sells $150,250.00 in Stock

Arteris, Inc. (NASDAQ:AIPGet Free Report) Director Raman Chitkara sold 5,000 shares of Arteris stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.05, for a total value of $150,250.00. Following the completion of the sale, the director directly owned 142,867 shares of the company’s stock, valued at $4,293,153.35. The trade was a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Raman Chitkara also recently made the following trade(s):

  • On Friday, April 24th, Raman Chitkara sold 5,000 shares of Arteris stock. The stock was sold at an average price of $25.06, for a total value of $125,300.00.
  • On Tuesday, April 14th, Raman Chitkara sold 5,000 shares of Arteris stock. The shares were sold at an average price of $20.05, for a total value of $100,250.00.

Arteris Stock Performance

Shares of Arteris stock traded down $1.66 during trading hours on Thursday, hitting $29.75. The company’s stock had a trading volume of 857,458 shares, compared to its average volume of 531,537. The business has a 50 day moving average price of $19.16 and a two-hundred day moving average price of $16.63. Arteris, Inc. has a 12-month low of $6.88 and a 12-month high of $32.11. The company has a market cap of $1.37 billion, a PE ratio of -36.28 and a beta of 1.93.

Arteris (NASDAQ:AIPGet Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) 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 the consensus estimate of $18.55 million. As a group, research analysts anticipate that Arteris, Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the second quarter worth $32,000. BNP Paribas Financial Markets grew its holdings in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the last quarter. Strs Ohio acquired a new stake in shares of Arteris during the first quarter worth about $104,000. Penn Capital Management Company LLC acquired a new stake in shares of Arteris during the third quarter worth about $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Arteris in the 3rd quarter valued at approximately $113,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on AIP. Northland Securities set a $24.00 price objective on Arteris in a research note on Friday, February 13th. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arteris currently has an average rating of “Hold” and an average target price of $20.17.

Get Our Latest Analysis on Arteris

About Arteris

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Arteris (NASDAQ:AIP)

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