Arteris (NASDAQ:AIP) Director Sells $83,419.00 in Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 4,907 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.00, for a total value of $83,419.00. Following the sale, the director owned 585,093 shares of the company’s stock, valued at $9,946,581. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 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 stock was sold at an average price of $17.14, for a total value of $1,261,675.40.

Arteris Stock Performance

AIP traded down $0.23 on Friday, reaching $16.99. 519,469 shares of the company’s stock were exchanged, compared to its average volume of 485,938. The company has a market cap of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.47. Arteris, Inc. has a twelve month low of $5.46 and a twelve month high of $19.85. The company’s 50 day moving average is $15.86 and its 200-day moving average is $13.59.

Arteris (NASDAQ:AIP) last released its quarterly earnings data 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 business had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. Sell-side analysts forecast that Arteris, Inc. will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in shares of Arteris in the 1st quarter valued at approximately $1,621,000. Strs Ohio acquired a new stake in shares of Arteris during the first quarter worth approximately $104,000. Savant Capital LLC bought a new stake in shares of Arteris in the second quarter worth $97,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arteris in the second quarter valued at $151,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Arteris during the 2nd quarter valued at $254,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.