Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 70,000 Shares

Key Points

• Arteris CEO K. Charles Janac sold 70,000 shares on May 8 at an average price of $31.20, for proceeds of about $2.18 million. After the sale, he still directly owned 9,049,071 shares, valued at roughly $282.3 million.
• This was part of a broader pattern of insider selling, with Janac having made multiple other stock sales in recent weeks across March and April.
• Arteris recently reported better-than-expected quarterly results, posting a smaller loss per share than analysts anticipated and revenue that topped estimates. Despite that, Wall Street’s consensus rating remains Hold with a target price around $20.17.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 70,000 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $31.20, for a total transaction of $2,184,000.00. Following the transaction, the chief executive officer directly owned 9,049,071 shares of the company's stock, valued at $282,331,015.20. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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.
• On Thursday, April 2nd, K Charles Janac sold 9,009 shares of Arteris stock. The stock was sold at an average price of $17.65, for a total value of $159,008.85.
• On Monday, April 6th, K Charles Janac sold 11,800 shares of Arteris stock. The shares were sold at an average price of $18.34, for a total transaction of $216,412.00.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The stock was sold at an average price of $18.35, for a total value of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The stock was 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 stock was 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 stock was sold at an average price of $14.21, for a total value of $582,610.00.

Arteris Price Performance

NASDAQ AIP traded down $0.70 on Tuesday, hitting $32.43. 1,255,190 shares of the company were exchanged, compared to its average volume of 551,675. Arteris, Inc. has a twelve month low of $6.88 and a twelve month high of $33.46. The firm has a market capitalization of $1.49 billion, a P/E ratio of -39.55 and a beta of 1.93. The company's 50 day moving average price is $20.06 and its 200-day moving average price is $17.01.

Arteris (NASDAQ:AIP - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. As a group, equities analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Trading of Arteris

Several large investors have recently added to or reduced their stakes in AIP. AQR Capital Management LLC bought a new stake in shares of Arteris during the 1st quarter worth about $1,621,000. Strs Ohio bought a new position in shares of Arteris in the first quarter valued at approximately $104,000. Geode Capital Management LLC boosted its holdings in shares of Arteris by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company's stock worth $6,222,000 after buying an additional 30,018 shares during the period. Rhumbline Advisers grew its position in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company's stock valued at $519,000 after purchasing an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Arteris by 8.6% in 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 last quarter. 64.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AIP shares. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Wall Street Zen cut shares of Arteris from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arteris in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.17.

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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