K Charles Janac Sells 70,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $19.04, for a total transaction of $1,332,800.00. Following the transaction, the chief executive officer owned 9,119,071 shares in the company, valued at $173,627,111.84. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 2nd, K Charles Janac sold 9,009 shares of Arteris stock. The stock was sold at an average price of $17.65, for a total transaction of $159,008.85.
• On Monday, April 6th, K Charles Janac sold 11,800 shares of Arteris stock. The stock was sold at an average price of $18.34, for a total transaction of $216,412.00.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The stock was sold at an average price of $18.35, for a total transaction of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The stock was sold at an average price of $18.03, for a total transaction of $126,426.36.
• On Tuesday, March 10th, K Charles Janac sold 9,000 shares of Arteris stock. The stock was sold at an average price of $14.66, for a total transaction of $131,940.00.
• On Monday, March 9th, K Charles Janac sold 41,000 shares of Arteris stock. The stock was sold at an average price of $14.21, for a total transaction of $582,610.00.
• On Tuesday, February 10th, K Charles Janac sold 2,756 shares of Arteris stock. The stock was sold at an average price of $15.03, for a total transaction of $41,422.68.
• On Monday, February 9th, K Charles Janac sold 47,244 shares of Arteris stock. The stock was sold at an average price of $15.21, for a total transaction of $718,581.24.
• On Thursday, January 15th, K Charles Janac sold 17,884 shares of Arteris stock. The stock was sold at an average price of $17.84, for a total transaction of $319,050.56.
• On Tuesday, January 13th, K Charles Janac sold 2,116 shares of Arteris stock. The shares were sold at an average price of $17.79, for a total transaction of $37,643.64.

Arteris Price Performance

Shares of NASDAQ AIP opened at $19.34 on Friday. The company’s 50 day simple moving average is $15.94 and its 200 day simple moving average is $15.14. Arteris, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $19.93. The firm has a market capitalization of $879.39 million, a P/E ratio of -23.59 and a beta of 1.43.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Sell-side analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AIP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Wall Street Zen upgraded Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Finally, Northland Securities set a $24.00 price objective on Arteris in a report on Friday, February 13th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

Several hedge funds have recently bought and sold shares of the company. Needham Investment Management LLC raised its holdings in Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares during the period. Franklin Resources Inc. raised its holdings in Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock worth $27,017,000 after purchasing an additional 101,646 shares during the period. Vanguard Group Inc. raised its holdings in Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after purchasing an additional 120,947 shares during the period. Westerly Capital Management LLC raised its holdings in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Company Profile

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.