Insider Selling: Arteris (NASDAQ:AIP) Director Sells 3,690 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 3,690 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $62,803.80. Following the completion of the transaction, the director owned 390,000 shares in the company, valued at approximately $6,637,800. The trade was a 0.94% decrease in their position. 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 Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total transaction of $1,824,793.51.
• 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 value 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 value of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Price Performance

Shares of NASDAQ:AIP traded up $0.28 during trading on Wednesday, reaching $16.46. 539,469 shares of the stock were exchanged, compared to its average volume of 521,131. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $19.85. The stock has a fifty day moving average of $15.90 and a two-hundred day moving average of $13.81.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. Sell-side analysts forecast that Arteris, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently modified their holdings of AIP. Raymond James Financial Inc. bought a new stake in shares of Arteris during the 2nd quarter valued at $32,000. BNP Paribas Financial Markets raised its holdings in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares during the period. New York State Common Retirement Fund raised its holdings in Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after acquiring an additional 7,400 shares during the period. Savant Capital LLC purchased a new position in shares of Arteris in the second quarter valued at about $97,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Arteris in the fourth quarter worth about $162,000. 64.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AIP shares. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Finally, Northland Securities set a $24.00 price target on Arteris in a research note on Friday, February 13th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.