Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 70,000 Shares

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 70,000 shares of Arteris stock in a transaction on Monday, June 8th. The shares were sold at an average price of $34.91, for a total value of $2,443,700.00. Following the transaction, the chief executive officer directly owned 8,929,071 shares of the company’s stock, valued at approximately $311,713,868.61. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $31.20, for a total value of $2,184,000.00.
• On Wednesday, April 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $19.04, for a total value of $1,332,800.00.
• On Thursday, April 2nd, K Charles Janac sold 9,009 shares of Arteris stock. The stock was sold at an average price of $17.65, for a total value of $159,008.85.
• On Monday, April 6th, K Charles Janac sold 11,800 shares of Arteris stock. The shares were sold at an average price of $18.34, for a total transaction of $216,412.00.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The shares were sold at an average price of $18.35, for a total value of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The shares were sold at an average price of $18.03, for a total value of $126,426.36.

Arteris Stock Down 0.7%

NASDAQ AIP traded down $0.25 during trading on Wednesday, hitting $33.51. The stock had a trading volume of 811,289 shares, compared to its average volume of 675,542. Arteris, Inc. has a 12 month low of $7.92 and a 12 month high of $38.99. The company has a market capitalization of $1.55 billion, a PE ratio of -42.42 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day moving average price is $28.39 and its two-hundred day moving average price is $20.24.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. As a group, sell-side analysts forecast that Arteris, Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AIP shares. Jefferies Financial Group raised their price objective on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. Rosenblatt Securities lifted their price target on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. TD Cowen boosted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arteris currently has an average rating of “Hold” and a consensus target price of $37.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Roubaix Capital LLC purchased a new stake in Arteris during the 3rd quarter valued at $2,361,000. Huntleigh Advisors Inc. bought a new stake in Arteris during the fourth quarter worth approximately $1,832,000. Granahan Investment Management LLC boosted its position in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after buying an additional 546,341 shares during the period. Herald Investment Management Ltd boosted its holdings in shares of Arteris by 33.3% in the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock valued at $4,036,000 after purchasing an additional 100,000 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Arteris by 59.3% in the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company’s stock worth $1,334,000 after buying an additional 49,153 shares in the last quarter. Hedge funds and other institutional investors 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.