Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 4,907 Shares

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 4,907 shares of Arteris stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.00, for a total transaction of $83,419.00. Following the transaction, the director owned 585,093 shares of the company’s stock, valued at approximately $9,946,581. The trade was a 0.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The shares were sold at an average price of $17.01, for a total transaction 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 transaction of $1,261,675.40.

Arteris Stock Performance

AIP stock traded down $0.23 on Friday, reaching $16.99. The company had a trading volume of 519,469 shares, compared to its average volume of 485,938. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $19.85. The company’s fifty day moving average is $15.86 and its 200 day moving average is $13.59. The company has a market cap of $772.54 million, a P/E ratio of -20.72 and a beta of 1.47.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. On average, sell-side analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on AIP shares. Northland Securities set a $24.00 target price on shares of Arteris in a report on Friday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

A number of institutional investors have recently bought and sold shares of the stock. Needham Investment Management LLC increased its position in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after purchasing an additional 101,646 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after buying an additional 120,947 shares during the period. Westerly Capital Management LLC increased its holdings in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after buying an additional 745,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after buying an additional 598,840 shares during the last quarter. 64.36% of the stock is currently 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.