K Charles Janac Sells 73,894 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 73,894 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.00, for a total value of $2,216,820.00. Following the completion of the sale, the chief executive officer owned 8,355,177 shares in the company, valued at $250,655,310. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, August 4th, K Charles Janac sold 26,106 shares of Arteris stock. The stock was sold at an average price of $31.97, for a total value of $834,608.82.
• On Monday, July 6th, K Charles Janac sold 125,976 shares of Arteris stock. The shares were sold at an average price of $35.79, for a total transaction of $4,508,681.04.
• On Monday, July 6th, K Charles Janac sold 10,679 shares of Arteris stock. The stock was sold at an average price of $35.90, for a total transaction of $383,376.10.
• On Thursday, July 2nd, K Charles Janac sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total value of $6,998,355.52.
• On Thursday, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The stock was sold at an average price of $38.78, for a total transaction of $422,779.56.
• On Monday, June 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Trading Down 3.6%

AIP stock traded down $1.16 during trading on Wednesday, hitting $30.93. 521,833 shares of the company traded hands, compared to its average volume of 734,745. The firm has a market capitalization of $1.43 billion, a PE ratio of -39.15 and a beta of 1.96. Arteris, Inc. has a 1 year low of $8.42 and a 1 year high of $50.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day moving average of $36.29 and a 200-day moving average of $25.97.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $21.03 million. Analysts predict that Arteris, Inc. will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arteris

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc grew its position in Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Arteris in the second quarter worth approximately $32,000. Royal Bank of Canada grew its holdings in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Arteris by 352.4% during the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $147,000 after acquiring an additional 7,400 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

AIP has been the topic of a number of research reports. Oppenheimer started coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings cut Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Rosenblatt Securities upped their target price on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Wall Street Zen lowered Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Roth Capital assumed coverage on Arteris in a report on Tuesday. They issued a “buy” rating and a $40.00 price objective for the company. Four equities 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

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.