Insider Selling: Arteris (NASDAQ:AIP) Director Sells $1,261,675.40 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 73,610 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $17.14, for a total value of $1,261,675.40. Following the sale, the director owned 511,483 shares in the company, valued at $8,766,818.62. The trade was a 12.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Saiyed Atiq Raza also recently made the following trade(s):

• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total value of $200,071.62.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Stock Down 1.3%

AIP opened at $16.99 on Monday. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85. The business has a 50 day moving average of $15.88 and a 200-day moving average of $13.69. The stock has a market cap of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

AIP has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Northland Securities set a $24.00 price objective on Arteris in a report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

Institutional Trading of Arteris

Several large investors have recently modified their holdings of the stock. Worth Venture Partners LLC bought a new stake in Arteris during the second quarter worth about $451,000. Franklin Resources Inc. raised its position in shares of Arteris by 9.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after buying an additional 142,936 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Arteris during the 2nd quarter worth approximately $254,000. Squarepoint Ops LLC lifted its holdings in shares of Arteris by 143.8% during the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock worth $1,153,000 after acquiring an additional 71,340 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Arteris during the 2nd quarter worth approximately $405,000. 64.36% of the stock is 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.