Arteris (NASDAQ:AIP) CEO Sells 125,976 Shares of Stock

Key Points

• Arteris CEO K. Charles Janac sold 125,976 shares on July 6 at an average price of $35.79, for about $4.51 million. After the sale, he still held 8.43 million shares, and the transaction reduced his ownership by 1.47%.
• Arteris stock rose 10% in Wednesday trading to $34.46, with volume above its daily average. The company’s market cap is about $1.59 billion, and the stock has traded between a 52-week low of $8.42 and high of $50.26.
• Recent results beat expectations, with the company posting a smaller-than-expected loss of $0.03 per share and revenue of $22.94 million for the quarter. Analysts currently have a consensus rating of Hold with a target price of $37.75.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 125,976 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $35.79, for a total value of $4,508,681.04. Following the transaction, the chief executive officer directly owned 8,429,071 shares in the company, valued at approximately $301,676,451.09. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, July 6th, K Charles Janac sold 10,679 shares of Arteris stock. The shares were sold at an average price of $35.90, for a total value 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 value 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.

Arteris Stock Up 10.0%

AIP stock traded up $3.14 during midday trading on Wednesday, reaching $34.46. 1,084,650 shares of the company's stock traded hands, compared to its average volume of 755,391. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm's fifty day moving average price is $36.62 and its 200-day moving average price is $23.79. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -43.62 and a beta of 1.92.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $21.03 million. As a group, sell-side analysts forecast that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arteris

Several institutional investors have recently added to or reduced their stakes in AIP. AQR Capital Management LLC bought a new stake in Arteris in the first quarter worth about $1,621,000. Strs Ohio bought a new position in shares of Arteris during the 1st quarter valued at approximately $104,000. Geode Capital Management LLC increased its stake 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 purchasing an additional 30,018 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Arteris by 35.8% during the 2nd quarter. Rhumbline Advisers now owns 54,416 shares of the company's stock worth $519,000 after purchasing an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Arteris by 8.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company's stock worth $3,053,000 after purchasing an additional 25,448 shares during the period. Institutional investors own 64.36% of the company's stock.

Analysts Set New Price Targets

AIP has been the subject of several analyst reports. Wall Street Zen downgraded Arteris from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. Jefferies Financial Group raised their price objective on Arteris from $16.00 to $35.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. TD Cowen lifted their price objective on shares of Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, 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 note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.75.

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.

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