Insider Selling: Arteris (NASDAQ:AIP) Director Sells 90,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00. Following the transaction, the director owned 210,000 shares in the company, valued at $6,029,100. This trade represents a 30.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total transaction of $1,616,350.40.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total transaction of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total transaction of $1,824,793.51.
• 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 value of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total value of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Trading Down 0.3%

NASDAQ:AIP traded down $0.10 during trading hours on Monday, reaching $28.85. 685,826 shares of the company traded hands, compared to its average volume of 520,823. The business’s 50-day moving average price is $18.51 and its two-hundred day moving average price is $16.40. Arteris, Inc. has a 1 year low of $6.64 and a 1 year high of $29.50. The stock has a market capitalization of $1.33 billion, a P/E ratio of -35.18 and a beta of 1.93.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. As a group, equities analysts anticipate that Arteris, Inc. will post -0.68 EPS for the current year.

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its position in Arteris by 65.9% in the 1st quarter. Strs Ohio now owns 34,000 shares of the company’s stock valued at $559,000 after acquiring an additional 13,500 shares in the last quarter. Wesbanco Bank Inc. bought a new position in Arteris in the 1st quarter valued at approximately $559,000. Invesco Ltd. lifted its position in Arteris by 28.0% in the 4th quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock valued at $271,000 after acquiring an additional 3,830 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Arteris in the 4th quarter valued at approximately $162,000. Finally, VestGen Advisors LLC bought a new position in Arteris in the 4th quarter valued at approximately $218,000. 64.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AIP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Northland Securities set a $24.00 price target on shares of Arteris in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a report on Monday, April 20th. Finally, Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.