Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 72,940 Shares

Key Points

• Arteris director Saiyed Atiq Raza sold 72,940 shares on April 17 at an average price of $22.16 for $1.62M, leaving him with 317,060 shares and an 18.7% reduction in ownership; including several other recent sales his insider disposals total about $5.43M.
• Arteris is trading near $23.58 (50‑day SMA $16.71, 200‑day SMA $15.67) with a market cap of roughly $1.07B, negative trailing P/E, and mixed analyst coverage (average rating "Hold" and average price target $20.17).

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 72,940 shares of the firm's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $22.16, for a total value of $1,616,350.40. Following the completion of the sale, the director owned 317,060 shares of the company's stock, valued at approximately $7,026,049.60. This represents a 18.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $378,049.60.
• 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 value of $62,803.80.
• On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The stock was 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 stock was sold at an average price of $17.14, for a total value of $1,261,675.40.
• On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The stock was sold at an average price of $17.00, for a total value of $83,419.00.

Arteris Stock Performance

AIP stock traded up $0.95 during midday trading on Tuesday, reaching $23.58. The company's stock had a trading volume of 710,122 shares, compared to its average volume of 484,818. The stock has a fifty day simple moving average of $16.71 and a two-hundred day simple moving average of $15.67. Arteris, Inc. has a 1 year low of $5.72 and a 1 year high of $24.10. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -28.76 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AIP shares. Northland Securities set a $24.00 target price on Arteris in a research note on Friday, February 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arteris in a research note on Wednesday, January 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded Arteris from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $20.17.

Hedge Funds Weigh In On Arteris

Institutional investors have recently made changes to their positions in the company. Roubaix Capital LLC purchased a new position in shares of Arteris during the third quarter valued at $2,361,000. Granahan Investment Management LLC increased its stake in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after buying an additional 546,341 shares during the period. Herald Investment Management Ltd increased its stake in shares of Arteris by 33.3% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company's stock valued at $4,036,000 after buying an additional 100,000 shares during the period. GSA Capital Partners LLP increased its stake in shares of Arteris by 59.3% during the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company's stock valued at $1,334,000 after buying an additional 49,153 shares during the period. Finally, Apis Capital Advisors LLC purchased a new position in shares of Arteris during the third quarter valued at $606,000. Hedge funds and other institutional investors own 64.36% of the company's stock.

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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