Saiyed Atiq Raza Sells 11,762 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 11,762 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $17.01, for a total value of $200,071.62. Following the sale, the director directly owned 499,721 shares in the company, valued at $8,500,254.21. This represents a 2.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total value of $1,261,675.40.
• 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 value of $83,419.00.

Arteris Stock Down 1.3%

Shares of AIP traded down $0.23 during trading hours on Friday, hitting $16.99. 519,469 shares of the company were exchanged, compared to its average volume of 485,938. Arteris, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The company has a market cap of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.47. The firm’s fifty day moving average is $15.86 and its 200 day moving average is $13.59.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIP. Weiss Ratings reiterated 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 reaffirmed a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Friday, February 13th. Finally, TD Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arteris presently has an average rating of “Hold” and a consensus target price of $20.17.

Institutional Trading of Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. AQR Capital Management LLC bought a new stake in shares of Arteris during the first quarter worth $1,621,000. Strs Ohio acquired a new stake in shares of Arteris during the 1st quarter valued at $104,000. Savant Capital LLC bought a new stake in Arteris during the 2nd quarter worth $97,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Arteris during the 2nd quarter worth $151,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Arteris in the 2nd quarter worth about $254,000. Institutional investors and hedge funds 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.