Arteris (NASDAQ:AIP) Director Sells $125,300.00 in Stock

Key Points

• Director sale: Arteris director Raman Chitkara sold 5,000 shares on April 24 at an average price of $25.06 for total proceeds of $125,300, trimming his stake by 3.27% to 147,867 shares.
• Market action: Shares traded down about 3.6% to $25.65 on heavy volume (764,309 shares vs. average 507,099), with a market cap of $1.18 billion and a 12‑month range of $6.45–$27.11.
• Financials and sentiment: Arteris beat expectations last quarter with EPS of -$0.05 (vs. -$0.08 est.) and revenue of $20.14M, but analysts still forecast a full‑year EPS of -0.68 and the consensus rating is a Hold with an average target of $20.17.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Raman Chitkara sold 5,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $25.06, for a total value of $125,300.00. Following the sale, the director owned 147,867 shares of the company's stock, valued at approximately $3,705,547.02. The trade was a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Raman Chitkara also recently made the following trade(s):

• On Tuesday, April 14th, Raman Chitkara sold 5,000 shares of Arteris stock. The shares were sold at an average price of $20.05, for a total value of $100,250.00.

Arteris Trading Down 3.6%

NASDAQ:AIP traded down $0.95 during mid-day trading on Tuesday, hitting $25.65. 764,309 shares of the company's stock traded hands, compared to its average volume of 507,099. The firm has a 50 day moving average of $17.73 and a two-hundred day moving average of $16.10. Arteris, Inc. has a 12 month low of $6.45 and a 12 month high of $27.11. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -31.28 and a beta of 1.43.

Arteris (NASDAQ:AIP - Get Free Report) last announced 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 business had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. As a group, equities research analysts expect that Arteris, Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

Several large investors have recently added to or reduced their stakes in AIP. Raymond James Financial Inc. acquired a new position in Arteris in the 2nd quarter valued at approximately $32,000. BNP Paribas Financial Markets raised its holdings in Arteris by 75.0% in 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 in the last quarter. Strs Ohio acquired a new position in Arteris in the 1st quarter valued at approximately $104,000. Penn Capital Management Company LLC acquired a new position in shares of Arteris in the 3rd quarter worth approximately $109,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Arteris in the 3rd quarter worth approximately $113,000. Institutional investors and hedge funds own 64.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AIP. Weiss Ratings restated a "sell (d-)" rating on shares of Arteris in a research note on Monday, April 20th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price target on shares of Arteris in a report on Friday, February 13th. Northland Securities set a $24.00 price target on Arteris in a report on Friday, February 13th. Finally, Wall Street Zen raised Arteris from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arteris presently has an average rating of "Hold" and an average target price of $20.17.

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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