Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 29,544 Shares

Key Points

• Arteris, Inc. Director Saiyed Atiq Raza sold 29,544 shares at an average price of $10.07, totaling approximately $297,508, reducing his ownership by 4.33%.
• The company's stock is currently trading at $9.86, with a market cap of $413.92 million and a price-to-earnings ratio of -12.02.
• Hedge funds and institutional investors own 64.36% of Arteris, with several increasing their stakes significantly in the first quarter of the year.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 29,544 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $10.07, for a total transaction of $297,508.08. Following the transaction, the director directly owned 653,118 shares in the company, valued at approximately $6,576,898.26. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, July 18th, Saiyed Atiq Raza sold 1,136 shares of Arteris stock. The shares were sold at an average price of $10.00, for a total transaction of $11,360.00.
• On Friday, June 27th, Saiyed Atiq Raza sold 19,809 shares of Arteris stock. The shares were sold at an average price of $10.02, for a total transaction of $198,486.18.

Arteris Price Performance

Shares of AIP traded down $0.59 during trading hours on Thursday, hitting $9.86. The company's stock had a trading volume of 428,978 shares, compared to its average volume of 324,928. The company has a market cap of $413.92 million, a price-to-earnings ratio of -12.02 and a beta of 1.44. The business has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $8.44. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $12.64.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reissued a "buy" rating and set a $14.00 price target on shares of Arteris in a research report on Wednesday, May 21st.

Hedge Funds Weigh In On Arteris

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Needham Investment Management LLC increased its position in Arteris by 2.5% during the 1st quarter. Needham Investment Management LLC now owns 2,812,500 shares of the company's stock valued at $19,434,000 after purchasing an additional 67,500 shares during the period. Samjo Management LLC increased its position in Arteris by 0.9% during the 4th quarter. Samjo Management LLC now owns 1,157,250 shares of the company's stock valued at $11,792,000 after purchasing an additional 10,000 shares during the period. Acadian Asset Management LLC increased its position in Arteris by 40.6% during the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company's stock valued at $6,222,000 after purchasing an additional 260,277 shares during the period. Next Century Growth Investors LLC increased its position in Arteris by 46.4% during the 1st quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company's stock valued at $2,817,000 after purchasing an additional 129,143 shares during the period. Finally, Federated Hermes Inc. increased its position in Arteris by 97.2% during the 1st quarter. Federated Hermes Inc. now owns 327,119 shares of the company's stock valued at $2,260,000 after purchasing an additional 161,241 shares during the period. Hedge funds and other institutional investors own 64.36% of the company's stock.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.