Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 20,839 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 20,839 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $37.39, for a total transaction of $779,170.21. Following the completion of the transaction, the director owned 140,000 shares of the company’s stock, valued at approximately $5,234,600. This represents a 12.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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.
• On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The stock was sold at an average price of $28.71, for a total transaction of $2,583,900.00.
• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $1,616,350.40.

Arteris Price Performance

Arteris stock opened at $37.19 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.72 billion, a PE ratio of -47.08 and a beta of 1.98. Arteris, Inc. has a one year low of $7.56 and a one year high of $38.99. The business has a 50 day simple moving average of $27.36 and a 200 day simple moving average of $19.79.

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 firm had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. On average, sell-side analysts forecast that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AIP. AQR Capital Management LLC bought a new position in shares of Arteris in the 1st quarter worth $1,621,000. Strs Ohio acquired a new position in Arteris in the first quarter valued at about $104,000. Geode Capital Management LLC lifted its stake in Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after buying an additional 30,018 shares during the period. Rhumbline Advisers lifted its stake in Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock valued at $519,000 after buying an additional 14,350 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Arteris by 8.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock valued at $3,053,000 after buying an additional 25,448 shares during the period. 64.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AIP. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Jefferies Financial Group lifted their price objective on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Rosenblatt Securities lifted their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a research note on Wednesday, May 13th. Finally, TD Cowen lifted their target price on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arteris currently has a consensus rating of “Hold” and an average price target of $37.75.

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.