Insider Selling: Arteris (NASDAQ:AIP) CEO Sells 100,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Janac sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the completion of the transaction, the chief executive officer directly owned 8,229,071 shares in the company, valued at approximately $170,753,223.25. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, August 4th, K Janac sold 26,106 shares of Arteris stock. The stock was sold at an average price of $31.97, for a total transaction of $834,608.82.
• On Monday, August 3rd, K Janac sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total transaction of $2,216,820.00.
• On Monday, July 6th, K Janac sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Monday, July 6th, K Janac sold 10,679 shares of Arteris stock. The shares were sold at an average price of $35.90, for a total transaction of $383,376.10.
• On Thursday, July 2nd, K Janac sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Thursday, July 2nd, K Janac sold 10,902 shares of Arteris stock. The stock was sold at an average price of $38.78, for a total value of $422,779.56.
• On Monday, June 8th, K Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total value of $2,443,700.00.

Arteris Price Performance

Shares of AIP stock traded down $0.16 during trading hours on Thursday, reaching $20.68. The company’s stock had a trading volume of 624,268 shares, compared to its average volume of 734,831. Arteris, Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $50.26. The firm’s 50 day simple moving average is $30.68 and its 200-day simple moving average is $27.41. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.77 and a beta of 1.91.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. Sell-side analysts forecast that Arteris, Inc. will post -0.68 earnings per share for the current year.

Institutional Trading of Arteris

Several institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Arteris during the 2nd quarter valued at approximately $53,000. Versant Capital Management Inc lifted its position in shares of Arteris by 33.7% in the 2nd 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 period. Allworth Financial LP acquired a new position in shares of Arteris in the 2nd quarter worth approximately $87,000. Raymond James Financial Inc. bought a new stake in shares of Arteris in the 2nd quarter valued at $32,000. Finally, State of Wyoming bought a new stake in shares of Arteris in the 2nd quarter valued at $165,000. 64.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AIP shares. Northland Securities set a $38.00 price target on shares of Arteris in a report on Wednesday, May 13th. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $50.00 in a report on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $38.00 price objective on shares of Arteris in a research report on Friday, August 7th. TD Cowen upped their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Oppenheimer initiated coverage on shares of Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.