Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 11,145 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 11,145 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.90, for a total value of $188,350.50. Following the transaction, the chief executive officer directly owned 139,487 shares of the company’s stock, valued at approximately $2,357,330.30. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 stock was 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 shares were 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 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 stock was sold at an average price of $14.82, for a total transaction of $18,465.72.

Arteris Trading Down 4.5%

AIP stock opened at $16.63 on Friday. The firm has a 50 day moving average of $15.34 and a 200-day moving average of $12.08. The company has a market cap of $726.40 million, a price-to-earnings ratio of -20.04 and a beta of 1.48. Arteris, Inc. has a 12-month low of $5.46 and a 12-month high of $19.85.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping 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. Sell-side analysts forecast that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AIP has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Arteris in a research note on Monday, December 15th. TD Cowen raised their target price on shares of Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Arteris in the second quarter valued at $32,000. BNP Paribas Financial Markets boosted its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after buying an additional 2,595 shares during the last quarter. Savant Capital LLC purchased a new stake in Arteris in the 2nd quarter valued at about $97,000. Penn Capital Management Company LLC purchased a new stake in Arteris in the 3rd quarter valued at about $109,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Arteris during the 2nd quarter valued at about $104,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.