Insider Selling: Arteris (NASDAQ:AIP) CEO Sells $605,329.80 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 32,988 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $18.35, for a total transaction of $605,329.80. Following the completion of the transaction, the chief executive officer owned 9,189,071 shares in the company, valued at $168,619,452.85. The trade was a 0.36% 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 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 value of $131,940.00.
• On Monday, March 9th, K Charles Janac sold 41,000 shares of Arteris stock. The shares were 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 shares were 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 shares were sold at an average price of $17.84, for a total value 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 value of $37,643.64.
• On Thursday, January 8th, K Charles Janac sold 50,000 shares of Arteris stock. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00.
• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The shares were sold at an average price of $16.90, for a total transaction of $188,350.50.
• 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 value of $120,865.35.

Arteris Trading Down 5.8%

Shares of AIP opened at $16.51 on Friday. The stock has a market cap of $750.71 million, a PE ratio of -20.13 and a beta of 1.45. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $19.85. The stock has a 50 day simple moving average of $15.60 and a 200-day simple moving average of $14.53.

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

Hedge Funds Weigh In On Arteris

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in Arteris by 9.6% during the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after purchasing an additional 142,936 shares during the last quarter. Roubaix Capital LLC bought a new position in shares of Arteris in the third quarter valued at $2,361,000. Squarepoint Ops LLC grew its stake in shares of Arteris by 143.8% in the second quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after buying an additional 71,340 shares in the last quarter. Herald Investment Management Ltd increased its holdings in Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock worth $4,036,000 after buying an additional 100,000 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Arteris during the second quarter worth $405,000. Institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Northland Securities set a $24.00 target price on Arteris in a report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Finally, Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.17.

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.