Arteris (NASDAQ:AIP) CEO Sells $829,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 50,000 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00. Following the transaction, the chief executive officer owned 9,419,071 shares in the company, valued at approximately $156,168,197.18. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The stock was sold at an average price of $16.90, for a total value of $188,350.50.
• On Friday, January 2nd, K Charles Janac sold 7,823 shares of Arteris stock. The shares were sold at an average price of $15.45, for a total value of $120,865.35.
• On Monday, December 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $17.71, for a total value of $1,239,700.00.
• On Friday, December 5th, K Charles Janac sold 60,000 shares of Arteris stock. The stock was sold at an average price of $17.08, for a total value of $1,024,800.00.
• On Thursday, December 4th, K Charles Janac sold 40,000 shares of Arteris stock. The shares were sold at an average price of $16.46, for a total value of $658,400.00.
• On Wednesday, December 3rd, K Charles Janac sold 2,058 shares of Arteris stock. The shares were sold at an average price of $15.52, for a total value of $31,940.16.
• On Tuesday, December 2nd, K Charles Janac sold 1,246 shares of Arteris stock. The stock was sold at an average price of $14.82, for a total value of $18,465.72.

Arteris Price Performance

AIP traded up $0.14 during midday trading on Monday, hitting $17.37. 397,728 shares of the company’s stock traded hands, compared to its average volume of 433,789. The company has a market cap of $758.72 million, a PE ratio of -20.93 and a beta of 1.48. The stock’s fifty day simple moving average is $15.41 and its 200-day simple moving average is $12.18. Arteris, Inc. has a one year low of $5.46 and a one year high of $19.85.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. On average, research analysts expect that Arteris, Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

AIP has been the topic of several recent research reports. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Monday, December 15th. Finally, Cowen reissued a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Institutional Trading of Arteris

Several hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. bought a new position in Arteris in the 2nd quarter worth approximately $32,000. BNP Paribas Financial Markets increased its position in 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 acquiring an additional 2,595 shares during the period. Savant Capital LLC acquired a new position in Arteris during the 2nd quarter valued at $97,000. Penn Capital Management Company LLC acquired a new position in Arteris during the 3rd quarter valued at $109,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Arteris in the 2nd quarter valued at $104,000. Institutional investors own 64.36% of the company’s stock.

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.