Insider Selling: Arteris (NASDAQ:AIP) CEO Sells $829,000.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 50,000 shares of Arteris stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $16.58, for a total value of $829,000.00. Following the completion of the sale, the chief executive officer owned 9,419,071 shares of the company’s stock, valued at $156,168,197.18. This trade represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The stock was 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 stock was sold at an average price of $15.45, for a total transaction of $120,865.35.
• On Monday, December 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00.
• On Friday, December 5th, K Charles Janac sold 60,000 shares of Arteris stock. The stock was sold at an average price of $17.08, for a total transaction of $1,024,800.00.
• On Thursday, December 4th, K Charles Janac sold 40,000 shares of Arteris stock. The shares were sold at an average price of $16.46, for a total transaction of $658,400.00.
• On Wednesday, December 3rd, K Charles Janac sold 2,058 shares of Arteris stock. The shares were sold at an average price of $15.52, for a total transaction of $31,940.16.
• On Tuesday, December 2nd, K Charles Janac sold 1,246 shares of Arteris stock. The stock was sold at an average price of $14.82, for a total value of $18,465.72.

Arteris Trading Down 2.1%

AIP stock opened at $17.10 on Thursday. The stock has a 50-day moving average price of $15.63 and a two-hundred day moving average price of $12.33. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85. The company has a market cap of $746.93 million, a PE ratio of -20.60 and a beta of 1.48.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to analysts’ expectations of $17.00 million. Equities analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

AIP has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Monday, December 15th. Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, TD Cowen boosted their price target on Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Four 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. Based on data from MarketBeat.com, Arteris presently has an average rating of “Moderate Buy” and an average target price of $17.50.

Institutional Trading of Arteris

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Arteris by 75.0% in the third 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 last quarter. Public Employees Retirement System of Ohio raised its position in shares of Arteris by 12.3% in 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 in the last quarter. Strs Ohio raised its position in shares of Arteris by 16.5% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Arteris during the 2nd quarter valued at approximately $32,000. Finally, Franklin Resources Inc. grew its position in shares of Arteris by 0.3% during the third quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock worth $16,578,000 after buying an additional 4,214 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.