Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 70,000 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 70,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $30.01, for a total transaction of $2,100,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Saiyed Atiq Raza also recently made the following trade(s):

• On Wednesday, June 3rd, Saiyed Atiq Raza sold 20,839 shares of Arteris stock. The stock was sold at an average price of $37.39, for a total transaction of $779,170.21.
• On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The stock was sold at an average price of $36.02, for a total transaction of $2,521,400.00.

Arteris Trading Down 3.6%

Shares of AIP traded down $1.16 during trading hours on Wednesday, reaching $30.93. 521,833 shares of the company traded hands, compared to its average volume of 734,745. The company’s fifty day moving average price is $36.29 and its two-hundred day moving average price is $25.97. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Equities research analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AIP. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen increased their price objective on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 price objective on Arteris in a research report on Wednesday, May 13th. Jefferies Financial Group boosted their target price on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.50.

Institutional Trading of Arteris

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Arteris during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake in shares of Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after acquiring an additional 290 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Arteris in the 1st quarter worth 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.