Arteris (NASDAQ:AIP) Director Sells $779,170.21 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 20,839 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $37.39, for a total transaction of $779,170.21. Following the transaction, the director directly owned 140,000 shares in the company, valued at approximately $5,234,600. The trade was a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The shares were sold at an average price of $36.02, for a total transaction of $2,521,400.00.
• On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The shares were sold at an average price of $28.71, for a total transaction of $2,583,900.00.
• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $1,616,350.40.

Arteris Stock Performance

NASDAQ:AIP opened at $34.28 on Friday. Arteris, Inc. has a twelve month low of $7.65 and a twelve month high of $38.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $27.69 and a 200-day moving average of $19.89. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -43.39 and a beta of 1.98.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. Analysts forecast that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in shares of Arteris by 10.4% during the 1st quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock valued at $1,758,000 after acquiring an additional 10,062 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Arteris by 366.7% during the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Arteris by 21.5% during the 1st quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock valued at $297,000 after acquiring an additional 3,200 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Arteris during the 1st quarter valued at $2,124,000. Finally, Granahan Investment Management LLC grew its holdings in shares of Arteris by 201.0% during the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after acquiring an additional 476,181 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen raised their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, Rosenblatt Securities raised their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.75.

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.