Arteris (NASDAQ:AIP) CEO Sells $2,216,820.00 in Stock

Key Points

• Arteris CEO K. Charles Janac sold 73,894 shares at an average price of $30, generating $2.22 million. He retained 8.36 million shares worth approximately $250.7 million, a 0.88% reduction in ownership.
• The sale follows several additional insider transactions, including more than $17.7 million in shares sold since May, indicating a pattern of substantial CEO selling.
• Arteris shares fell 3.6% to $30.93, below their 50-day moving average of $36.29. Despite a quarterly earnings beat and a consensus “Moderate Buy” rating with a $38.50 price target, the company remains unprofitable and analysts expect a full-year loss.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 73,894 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $30.00, for a total transaction of $2,216,820.00. Following the completion of the transaction, the chief executive officer directly owned 8,355,177 shares in the company, valued at $250,655,310. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, August 4th, K Charles Janac sold 26,106 shares of Arteris stock. The shares were sold at an average price of $31.97, for a total value of $834,608.82.
• On Monday, July 6th, K Charles Janac sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total value of $4,508,681.04.
• 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 stock was 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 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 transaction 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 Trading Down 3.6%

Shares of Arteris stock traded down $1.16 during mid-day trading on Wednesday, hitting $30.93. The stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. The firm has a 50-day moving average of $36.29 and a two-hundred day moving average of $25.97. The firm has a market cap of $1.43 billion, a P/E ratio of -39.15 and a beta of 1.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. 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 released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) 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 analyst estimates of $21.03 million. Sell-side analysts forecast that Arteris, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AIP has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Rosenblatt Securities boosted their price target on shares of Arteris from $20.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Wall Street Zen lowered Arteris from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Roth Capital started coverage on Arteris in a report on Tuesday. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Weiss Ratings lowered Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Four 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AIP. Versant Capital Management Inc lifted its holdings 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 buying an additional 290 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Arteris in the second quarter valued at $32,000. Royal Bank of Canada raised its stake in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock worth $66,000 after buying an additional 3,161 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock valued at $61,000 after acquiring an additional 2,595 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Arteris by 352.4% in the fourth quarter. New York State Common Retirement Fund now owns 9,500 shares of the company's stock valued at $147,000 after acquiring an additional 7,400 shares during the period. Institutional investors own 64.36% of the company's stock.

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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