Arteris (NASDAQ:AIP) CEO Sells $319,050.56 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 17,884 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56. Following the completion of the transaction, the chief executive officer directly owned 9,399,071 shares of the company’s stock, valued at approximately $167,679,426.64. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, January 13th, K Charles Janac sold 2,116 shares of Arteris stock. The stock was sold at an average price of $17.79, for a total transaction of $37,643.64.
• On Thursday, January 8th, K Charles Janac sold 50,000 shares of Arteris stock. The stock was sold at an average price of $16.58, for a total transaction 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 stock was 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 shares were 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 value 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 value 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 value 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 transaction of $18,465.72.

Arteris Trading Up 0.5%

Shares of AIP opened at $16.95 on Friday. The company’s fifty day simple moving average is $15.92 and its 200 day simple moving average is $12.64. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85. The company has a market cap of $740.38 million, a price-to-earnings ratio of -20.42 and a beta of 1.48.

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

Hedge Funds Weigh In On Arteris

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AIP shares. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Arteris in a research report on Monday, December 15th. TD Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.50.

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.