Arteris (NASDAQ:AIP) CEO Sells $188,350.50 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 11,145 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $16.90, for a total transaction of $188,350.50. Following the completion of the transaction, the chief executive officer owned 139,487 shares in the company, valued at $2,357,330.30. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 transaction 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 stock was 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 shares were sold at an average price of $14.82, for a total value of $18,465.72.

Arteris Stock Up 3.6%

Shares of AIP stock opened at $17.23 on Friday. Arteris, Inc. has a 12 month low of $5.46 and a 12 month high of $19.85. The firm has a market cap of $752.61 million, a PE ratio of -20.76 and a beta of 1.48. The stock has a 50 day moving average of $15.41 and a 200-day moving average of $12.17.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $17.41 million during the quarter, compared to analyst estimates of $17.00 million. As a group, equities analysts predict that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AIP shares. Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Finally, TD Cowen raised their target price on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arteris has an average rating of “Moderate Buy” and an average price target of $17.50.

Hedge Funds Weigh In On Arteris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its stake in Arteris by 40.6% during the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after acquiring an additional 260,277 shares in the last quarter. Acuitas Investments LLC bought a new stake in shares of Arteris in the 2nd quarter worth about $858,000. Worth Venture Partners LLC acquired a new stake in shares of Arteris during the 2nd quarter worth about $451,000. Franklin Resources Inc. increased its position in shares of Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after purchasing an additional 142,936 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Arteris by 143.8% during the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after purchasing an additional 71,340 shares during the last quarter. 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.