Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 3,690 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 3,690 shares of the firm’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 transaction, the director directly owned 390,000 shares of the company’s stock, valued at $6,637,800. The trade was a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 value 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 shares were 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 stock was sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Trading Down 5.3%

AIP stock traded down $0.87 during trading on Thursday, hitting $15.59. The company had a trading volume of 214,694 shares, compared to its average volume of 486,429. The stock has a market cap of $708.88 million, a PE ratio of -19.01 and a beta of 1.45. The business has a 50-day moving average of $15.90 and a 200-day moving average of $13.81. Arteris, Inc. has a one year low of $5.46 and a one year high of $19.85.

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

Institutional Trading of Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the business. Needham Investment Management LLC lifted its stake in shares of Arteris by 2.6% in the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares in the last quarter. Franklin Resources Inc. lifted its position in 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 acquiring an additional 101,646 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 120,947 shares during the last quarter. Westerly Capital Management LLC increased its holdings in 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 purchasing an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.