Arteris, Inc. (NASDAQ:AIP – Get Free Report) Director Saiyed Atiq Raza sold 20,839 shares of Arteris stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $37.39, for a total value of $779,170.21. Following the completion of the transaction, the director owned 140,000 shares of the company’s stock, valued at approximately $5,234,600. The trade was a 12.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Saiyed Atiq Raza also recently made the following trade(s):
- On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The shares were sold at an average price of $36.02, for a total value of $2,521,400.00.
- On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The shares were sold at an average price of $28.71, for a total value of $2,583,900.00.
- On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were 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 shares were sold at an average price of $22.16, for a total value of $1,616,350.40.
Arteris Trading Down 0.7%
AIP traded down $0.25 during mid-day trading on Thursday, reaching $37.19. The stock had a trading volume of 821,492 shares, compared to its average volume of 670,530. The stock has a market capitalization of $1.72 billion, a P/E ratio of -47.08 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s fifty day simple moving average is $26.95 and its two-hundred day simple moving average is $19.63. Arteris, Inc. has a 52 week low of $7.56 and a 52 week high of $38.99.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Northland Securities set a $38.00 price target on Arteris in a research note on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Rosenblatt Securities increased their price target on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, TD Cowen increased their price target on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. 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. Based on data from MarketBeat, Arteris has an average rating of “Hold” and an average price target of $37.75.
Read Our Latest Stock Analysis on Arteris
Institutional Trading of Arteris
Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Arteris during the 2nd quarter worth $32,000. Royal Bank of Canada raised its stake in Arteris by 366.7% during the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after buying an additional 3,161 shares during the period. BNP Paribas Financial Markets raised its stake in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares during the period. New York State Common Retirement Fund raised its stake in Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after buying an additional 7,400 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Arteris during the 4th quarter worth $162,000. Institutional investors and hedge funds 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.
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