Insider Selling: Arteris (NASDAQ:AIP) Director Sells $83,419.00 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 4,907 shares of Arteris stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.00, for a total transaction of $83,419.00. Following the sale, the director directly owned 585,093 shares of the company’s stock, valued at $9,946,581. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total transaction of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The stock was sold at an average price of $17.14, for a total value of $1,261,675.40.

Arteris Trading Down 1.3%

Arteris stock opened at $16.99 on Monday. The company has a market capitalization of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.45. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85. The stock’s 50 day moving average is $15.88 and its 200-day moving average is $13.69.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Westerly Capital Management LLC raised its position in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares in the last quarter. Nuveen LLC boosted its holdings in shares of Arteris by 872.3% in the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock valued at $11,428,000 after purchasing an additional 661,454 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after purchasing an additional 598,840 shares during the last quarter. Granahan Investment Management LLC raised its holdings in shares of Arteris by 725.7% during the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after buying an additional 546,341 shares in the last quarter. Finally, Informed Momentum Co LLC bought a new stake in shares of Arteris during the 4th quarter worth $5,755,000. 64.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen restated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Northland Securities set a $24.00 price objective on Arteris in a report on Friday, February 13th. Two equities 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. According to data from MarketBeat.com, the stock currently has an average 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.