Saiyed Atiq Raza Sells 106,031 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 106,031 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $17.21, for a total transaction of $1,824,793.51. Following the transaction, the director owned 393,690 shares in the company, valued at $6,775,404.90. This represents a 21.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total value of $62,803.80.
• 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 Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The stock was sold at an average price of $17.14, for a total value of $1,261,675.40.
• 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 5.5%

NASDAQ AIP opened at $15.55 on Friday. Arteris, Inc. has a 52 week low of $5.46 and a 52 week high of $19.85. The business has a 50 day moving average price of $15.90 and a 200-day moving average price of $13.82. The company has a market cap of $707.06 million, a price-to-earnings ratio of -18.96 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 (EPS) 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. On average, equities research analysts anticipate that Arteris, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Northland Securities set a $24.00 price objective on Arteris in a research note on Friday, February 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Two 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Intech Investment Management LLC boosted its stake in shares of Arteris by 9.3% in the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock worth $210,000 after buying an additional 1,148 shares during the last quarter. Deutsche Bank AG boosted its position in Arteris by 7.7% in the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock worth $328,000 after purchasing an additional 1,504 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after purchasing an additional 2,613 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Arteris by 16.5% during the 3rd quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after purchasing an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.