Insider Selling: Arteris (NASDAQ:AIP) CEO Sells $216,412.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 11,800 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $18.34, for a total transaction of $216,412.00. Following the completion of the transaction, the chief executive officer directly owned 196,729 shares of the company’s stock, valued at approximately $3,608,009.86. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

K Charles Janac also recently made the following trade(s):

• On Thursday, April 2nd, K Charles Janac sold 9,009 shares of Arteris stock. The shares were sold at an average price of $17.65, for a total transaction of $159,008.85.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The shares were sold at an average price of $18.35, for a total transaction of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The shares were sold at an average price of $18.03, for a total transaction of $126,426.36.
• On Tuesday, March 10th, K Charles Janac sold 9,000 shares of Arteris stock. The shares were sold at an average price of $14.66, for a total transaction of $131,940.00.
• On Monday, March 9th, K Charles Janac sold 41,000 shares of Arteris stock. The shares were sold at an average price of $14.21, for a total transaction of $582,610.00.
• On Tuesday, February 10th, K Charles Janac sold 2,756 shares of Arteris stock. The shares were sold at an average price of $15.03, for a total transaction of $41,422.68.
• On Monday, February 9th, K Charles Janac sold 47,244 shares of Arteris stock. The shares were sold at an average price of $15.21, for a total transaction of $718,581.24.
• On Thursday, January 15th, K Charles Janac sold 17,884 shares of Arteris stock. The shares were sold at an average price of $17.84, for a total transaction of $319,050.56.
• On Tuesday, January 13th, K Charles Janac sold 2,116 shares of Arteris stock. The shares were sold at an average price of $17.79, for a total transaction of $37,643.64.
• On Thursday, January 8th, K Charles Janac sold 50,000 shares of Arteris stock. The shares were sold at an average price of $16.58, for a total transaction of $829,000.00.

Arteris Price Performance

NASDAQ:AIP opened at $19.03 on Thursday. The stock has a market cap of $865.29 million, a P/E ratio of -23.21 and a beta of 1.43. The firm has a 50-day moving average of $15.77 and a two-hundred day moving average of $15.04. Arteris, Inc. has a 1-year low of $5.59 and a 1-year high of $19.85.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share (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. As a group, equities analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AIP shares. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Northland Securities set a $24.00 target price on shares of Arteris in a research note on Friday, February 13th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arteris currently has an average rating of “Hold” and an average price target of $20.17.

Institutional Investors Weigh In On Arteris

Several institutional investors and hedge funds have recently bought and sold shares of AIP. AQR Capital Management LLC acquired a new stake in Arteris during the first quarter worth about $1,621,000. Strs Ohio acquired a new stake in Arteris during the first quarter worth about $104,000. Geode Capital Management LLC raised its stake in Arteris by 4.8% during the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after acquiring an additional 30,018 shares during the period. Rhumbline Advisers raised its stake in Arteris by 35.8% during the second quarter. Rhumbline Advisers now owns 54,416 shares of the company’s stock worth $519,000 after acquiring an additional 14,350 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Arteris by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company’s stock worth $3,053,000 after acquiring an additional 25,448 shares during the period. Institutional investors and hedge funds 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.