Insider Selling: Arteris, Inc. (NASDAQ:AIP) CEO Sells 2,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIPGet Rating) CEO K Charles Janac sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $8.08, for a total transaction of $16,160.00. Following the completion of the sale, the chief executive officer now owns 148,564 shares of the company’s stock, valued at approximately $1,200,397.12. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of AIP traded up $0.14 during mid-day trading on Thursday, hitting $8.26. 146,587 shares of the company’s stock were exchanged, compared to its average volume of 76,047. Arteris, Inc. has a twelve month low of $7.69 and a twelve month high of $27.57. The firm has a fifty day moving average of $12.30 and a two-hundred day moving average of $16.54.

Arteris (NASDAQ:AIPGet Rating) last posted its earnings results on Thursday, March 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.20. The firm had revenue of $11.43 million during the quarter, compared to analyst estimates of $10.60 million. As a group, research analysts predict that Arteris, Inc. will post -0.7 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Arteris during the 4th quarter worth about $25,000. Mutual of America Capital Management LLC bought a new position in shares of Arteris during the 4th quarter worth about $5,229,000. Ibex Investors LLC bought a new position in shares of Arteris during the 4th quarter worth about $664,000. Northern Trust Corp bought a new position in shares of Arteris during the 4th quarter worth about $921,000. Finally, Bank of America Corp DE bought a new position in shares of Arteris during the 4th quarter worth about $111,000. Institutional investors own 17.98% of the company’s stock.

AIP has been the subject of a number of research analyst reports. Cowen cut their target price on shares of Arteris from $23.00 to $19.00 in a research report on Wednesday, May 11th. Zacks Investment Research upgraded shares of Arteris from a “sell” rating to a “hold” rating in a research report on Tuesday, February 1st. Cowen cut their target price on shares of Arteris from $23.00 to $19.00 in a research report on Wednesday, May 11th. Finally, BMO Capital Markets cut their target price on shares of Arteris from $20.00 to $15.00 in a research report on Wednesday, May 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arteris currently has an average rating of “Buy” and a consensus price target of $24.67.

About Arteris (Get Rating)

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and IP deployment solutions in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in System-on-Chip (Soc) designs and Network-on-Chip (NoC) interconnect IP.

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