K Charles Janac Sells 192,686 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 192,686 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the chief executive officer directly owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. The trade was a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The stock was sold at an average price of $38.78, for a total value of $422,779.56.
• On Monday, June 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• 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 transaction 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.

Arteris Stock Down 0.7%

NASDAQ:AIP traded down $0.24 during mid-day trading on Monday, hitting $34.82. The stock had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. The company has a market capitalization of $1.61 billion, a PE ratio of -44.08 and a beta of 1.92. The stock has a 50-day simple moving average of $36.32 and a two-hundred day simple moving average of $23.54. Arteris, Inc. has a twelve month low of $8.42 and a twelve month high of $50.26. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. On average, equities research analysts anticipate that Arteris, Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AIP. Rosenblatt Securities upped their target price on shares of Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group raised their price objective on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Two research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.75.

Institutional Trading of Arteris

Hedge funds have recently added to or reduced their stakes in the stock. Huntleigh Advisors Inc. purchased a new stake in shares of Arteris during the fourth quarter worth approximately $1,832,000. Nano Cap New Millennium Growth Fund L P purchased a new position in Arteris during the 4th quarter worth $1,914,000. Granahan Investment Management LLC lifted its stake in shares of Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after acquiring an additional 546,341 shares during the period. Needham Investment Management LLC lifted its stake in shares of Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after acquiring an additional 86,500 shares during the period. Finally, Wesbanco Bank Inc. purchased a new stake in shares of Arteris in the first quarter valued at about $559,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.