Insider Selling: Arteris (NASDAQ:AIP) CEO Sells $37,643.64 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 2,116 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $17.79, for a total transaction of $37,643.64. Following the completion of the sale, the chief executive officer directly owned 9,416,955 shares in the company, valued at $167,527,629.45. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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.
• On Tuesday, January 6th, K Charles Janac sold 11,145 shares of Arteris stock. The shares were sold at an average price of $16.90, for a total value of $188,350.50.
• On Friday, January 2nd, K Charles Janac sold 7,823 shares of Arteris stock. The shares were sold at an average price of $15.45, for a total value of $120,865.35.
• On Monday, December 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00.
• On Friday, December 5th, K Charles Janac sold 60,000 shares of Arteris stock. The shares were 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 stock was 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 stock was 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 shares were sold at an average price of $14.82, for a total value of $18,465.72.

Arteris Stock Performance

AIP traded up $0.27 on Thursday, hitting $17.37. 684,250 shares of the company were exchanged, compared to its average volume of 438,145. The stock’s fifty day moving average is $15.63 and its 200-day moving average is $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 $758.72 million, a PE ratio of -20.93 and a beta of 1.48.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.00 million. As a group, equities research analysts expect that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on AIP. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Monday, December 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, TD Cowen raised their price objective on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.50.

Institutional Investors Weigh In On Arteris

A number of large investors have recently added to or reduced their stakes in AIP. Franklin Resources Inc. lifted its position in shares of Arteris by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after acquiring an additional 4,214 shares during the period. Vanguard Group Inc. raised its stake in Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after purchasing an additional 120,947 shares in the last quarter. Westerly Capital Management LLC lifted its position in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Acadian Asset Management LLC increased its holdings in Arteris by 9.6% in the 2nd quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock valued at $9,403,000 after buying an additional 86,288 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Arteris by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after buying an additional 30,018 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

About Arteris

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.