Arteris (NASDAQ:AIP) CEO Sells $159,008.85 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 9,009 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $17.65, for a total value of $159,008.85. Following the sale, the chief executive officer owned 208,529 shares of the company’s stock, valued at $3,680,536.85. This trade represents a 4.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, April 6th, K Charles Janac sold 11,800 shares of Arteris stock. The shares were sold at an average price of $18.34, for a total value of $216,412.00.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The shares were sold at an average price of $18.35, for a total value of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The shares were sold at an average price of $18.03, for a total value of $126,426.36.
• On Tuesday, March 10th, K Charles Janac sold 9,000 shares of Arteris stock. The shares were 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 value 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 value of $41,422.68.
• On Monday, February 9th, K Charles Janac sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total value 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 value of $829,000.00.

Arteris Stock Up 5.0%

AIP opened at $19.03 on Thursday. The stock has a fifty day moving average of $15.77 and a 200-day moving average of $15.04. The firm has a market capitalization of $865.29 million, a P/E ratio of -23.21 and a beta of 1.43. Arteris, Inc. has a 12-month low of $5.59 and a 12-month high of $19.85.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) 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 analysts’ expectations of $18.55 million. On average, analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC increased its stake in shares of Arteris by 9.3% in the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock worth $210,000 after acquiring an additional 1,148 shares during the last quarter. Deutsche Bank AG increased its stake in shares of 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 acquiring an additional 1,504 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock worth $242,000 after acquiring an additional 2,613 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Arteris by 16.5% in the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock worth $207,000 after acquiring an additional 2,900 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AIP shares. Wall Street Zen upgraded Arteris from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Finally, Northland Securities set a $24.00 target price on Arteris in a report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.