Arteris, Inc. (NASDAQ:AIP) Director Sells $297,508.08 in Stock

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 Arteris stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $10.07, for a total transaction of $297,508.08. Following the sale, the director owned 653,118 shares of the company's stock, valued at approximately $6,576,898.26. The trade was a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 stock was 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 stock was sold at an average price of $10.02, for a total transaction of $198,486.18.

Arteris Stock Up 0.8%

Shares of AIP traded up $0.07 during mid-day trading on Monday, reaching $9.12. 83,936 shares of the company's stock were exchanged, compared to its average volume of 324,292. The company has a 50-day simple moving average of $8.89 and a two-hundred day simple moving average of $8.40. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $12.64. The company has a market cap of $382.90 million, a price-to-earnings ratio of -11.13 and a beta of 1.45.

Wall Street Analyst Weigh In

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

Institutional Trading of Arteris

Several hedge funds and other institutional investors have recently bought and sold shares of AIP. G2 Investment Partners Management LLC purchased a new stake in Arteris in the 4th quarter worth approximately $2,799,000. Acadian Asset Management LLC grew its stake in Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company's stock worth $6,222,000 after acquiring an additional 260,277 shares during the period. AQR Capital Management LLC purchased a new stake in Arteris in the 1st quarter worth approximately $1,621,000. Federated Hermes Inc. grew its stake in Arteris by 97.2% in the 1st quarter. Federated Hermes Inc. now owns 327,119 shares of the company's stock worth $2,260,000 after acquiring an additional 161,241 shares during the period. Finally, Next Century Growth Investors LLC grew its stake in Arteris by 46.4% in the 1st quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company's stock worth $2,817,000 after acquiring an additional 129,143 shares during the period. 64.36% of the stock is owned by hedge funds and other institutional investors.

Arteris Company Profile

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.