Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 192,686 Shares of Stock

Key Points

• Arteris CEO K. Charles Janac sold 192,686 shares on July 2 at an average price of $36.32, totaling about $7.0 million. The sale was disclosed in an SEC filing and was tied to tax withholding from vested equity awards.
• Janac has been actively selling Arteris shares recently, including additional sales earlier in July, June, May, and April. Despite the sales, he still held more than 8.55 million shares after the transaction.
• Arteris shares were trading lower at $34.82 on Monday, even after a recent earnings beat in which the company reported a smaller-than-expected loss and revenue above estimates. Analysts currently have a consensus rating of Hold with an average target price of $37.75.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 192,686 shares of Arteris stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the chief executive officer owned 8,555,047 shares of the company's stock, valued at $310,719,307.04. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The shares were 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 stock was sold at an average price of $34.91, for a total value 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.
• On Wednesday, April 8th, K Charles Janac sold 70,000 shares of Arteris stock. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00.

Arteris Stock Performance

Shares of NASDAQ:AIP traded down $0.24 during trading on Monday, hitting $34.82. The company's stock had a trading volume of 1,091,305 shares, compared to its average volume of 747,970. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -44.08 and a beta of 1.92. The company has a 50-day moving average of $36.32 and a 200-day moving average of $23.54. Arteris, Inc. has a 12 month low of $8.42 and a 12 month high of $50.26.

Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to analysts' expectations of $21.03 million. On average, sell-side analysts expect that Arteris, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Versant Capital Management Inc grew its stake in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company's stock worth $56,000 after acquiring an additional 290 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Arteris in the second quarter valued at approximately $32,000. Royal Bank of Canada grew its stake in Arteris by 366.7% in the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock valued at $66,000 after acquiring an additional 3,161 shares during the period. BNP Paribas Financial Markets grew its position in shares of Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock valued at $61,000 after purchasing an additional 2,595 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Arteris by 352.4% during the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company's stock worth $147,000 after buying an additional 7,400 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AIP. Weiss Ratings downgraded Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Rosenblatt Securities upped their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Jefferies Financial Group raised their target price on shares of Arteris from $16.00 to $35.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price target on shares of Arteris in a report on Wednesday, May 13th. Finally, TD Cowen increased their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Two investment 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 MarketBeat, the company has a consensus rating of "Hold" and an average target price of $37.75.

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.

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