Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 17,060 Shares

Key Points

• Director Saiyed Atiq Raza sold 17,060 shares on April 20 at an average price of $22.16 for $378,049.60, leaving him with 300,000 shares (a 5.38% reduction); this sale is part of a string of large insider disposals in recent months.
• Arteris shares traded up 4.2% to $23.58 on heavy volume (710,122 shares), sitting near a 12‑month high of $24.10 and carrying a market capitalization of about $1.07 billion.
• The company recently beat quarterly EPS and revenue estimates, but analyst sentiment is mixed with a consensus “Hold” rating and a $20.17 price target (2 Buys, 1 Hold, 1 Sell).

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 17,060 shares of the business's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $22.16, for a total transaction of $378,049.60. Following the completion of the transaction, the director directly owned 300,000 shares of the company's stock, valued at $6,648,000. This trade represents a 5.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Saiyed Atiq Raza also recently made the following trade(s):

• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total value of $1,616,350.40.
• On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The stock was sold at an average price of $17.02, for a total transaction of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total value of $1,824,793.51.
• On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total value of $200,071.62.
• On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total transaction of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Trading Up 4.2%

Shares of NASDAQ AIP traded up $0.95 during trading on Tuesday, reaching $23.58. 710,122 shares of the company traded hands, compared to its average volume of 484,818. The stock has a market cap of $1.07 billion, a P/E ratio of -28.76 and a beta of 1.43. The firm's fifty day simple moving average is $16.71 and its 200 day simple moving average is $15.67. Arteris, Inc. has a 12-month low of $5.72 and a 12-month high of $24.10.

Arteris (NASDAQ:AIP - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analysts' expectations of $18.55 million. As a group, research analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. purchased a new stake in Arteris in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets increased 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 worth $61,000 after purchasing an additional 2,595 shares during the last quarter. Strs Ohio purchased a new stake in shares of Arteris in the 1st quarter valued at approximately $104,000. Penn Capital Management Company LLC purchased a new position in shares of Arteris during the 3rd quarter worth approximately $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Arteris during the third quarter worth $113,000. Institutional investors and hedge funds own 64.36% of the company's stock.

Wall Street Analysts Forecast Growth

AIP has been the topic of several research analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Arteris in a research report on Friday, February 13th. Wall Street Zen raised Arteris from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Northland Securities set a $24.00 price objective on Arteris in a research note on Friday, February 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Arteris in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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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