Insider Selling: Arteris (NASDAQ:AIP) Director Sells 11,762 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 11,762 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $17.01, for a total value of $200,071.62. Following the transaction, the director directly owned 499,721 shares of the company’s stock, valued at $8,500,254.21. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were 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 stock was sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Trading Down 1.3%

Shares of NASDAQ AIP traded down $0.23 during midday trading on Friday, reaching $16.99. The company’s stock had a trading volume of 519,469 shares, compared to its average volume of 485,938. The stock has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $13.59. The stock has a market capitalization of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.47. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. As a group, equities analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Arteris

Large investors have recently added to or reduced their stakes in the business. Westerly Capital Management LLC grew its stake in shares of Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after acquiring an additional 745,000 shares in the last quarter. Nuveen LLC raised its stake in Arteris by 872.3% in the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after purchasing an additional 661,454 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Arteris by 144.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after purchasing an additional 598,840 shares during the period. Granahan Investment Management LLC boosted its holdings in Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after purchasing an additional 546,341 shares during the period. Finally, Informed Momentum Co LLC acquired a new position in shares of Arteris during the 4th quarter worth approximately $5,755,000. Institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AIP shares. Northland Securities set a $24.00 price target on Arteris in a research report on Friday, February 13th. TD Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently 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.