Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 73,610 Shares

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 73,610 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $17.14, for a total transaction of $1,261,675.40. Following the transaction, the director owned 511,483 shares of the company’s stock, valued at approximately $8,766,818.62. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total transaction of $200,071.62.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Trading Down 1.3%

Shares of NASDAQ:AIP traded down $0.23 during mid-day trading on Friday, reaching $16.99. The company had a trading volume of 519,469 shares, compared to its average volume of 485,938. Arteris, Inc. has a one year low of $5.46 and a one year high of $19.85. The company’s 50-day moving average price is $15.86 and its 200-day moving average price is $13.59. The firm has a market cap of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.47.

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

Analysts Set New Price Targets

A number of analysts recently commented on AIP shares. Northland Securities set a $24.00 price target on shares of Arteris in a research note on Friday, February 13th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a report on Wednesday, January 21st. Finally, TD Cowen reiterated 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.17.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Arteris by 28.0% during the fourth quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock worth $271,000 after purchasing an additional 3,830 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Arteris during the fourth quarter valued at approximately $162,000. VestGen Advisors LLC purchased a new position in Arteris in the 4th quarter worth approximately $218,000. Tudor Investment Corp ET AL purchased a new position in Arteris in the 4th quarter worth approximately $2,473,000. Finally, Numerai GP LLC bought a new position in shares of Arteris in the 4th quarter worth $390,000. 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.