Arteris (NASDAQ:AIP) CEO K Charles Janac Sells 9,359 Shares of Stock

Key Points

• Arteris CEO K. Charles Janac sold 9,359 shares at an average price of $24.64, generating $230,605.76. The sale covered tax withholding obligations tied to vested equity awards and reduced his ownership by 5.34% to 165,789 shares.
• Janac has made several additional sales recently, including two 100,000-share transactions in September and October, bringing his recent disclosed sales to more than $7.7 million.
• Arteris shares fell 2.8% to $23.97, while the company reported a quarterly EPS loss of $0.10 versus the expected loss of $0.04. Despite weak profitability, analysts maintained a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $39.43.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Janac sold 9,359 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $24.64, for a total transaction of $230,605.76. Following the transaction, the chief executive officer owned 165,789 shares in the company, valued at approximately $4,085,040.96. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, October 1st, K Janac sold 100,000 shares of Arteris stock. The stock was sold at an average price of $23.82, for a total transaction of $2,382,000.00.
• On Tuesday, September 1st, K Janac sold 100,000 shares of Arteris stock. The shares were sold at an average price of $20.75, for a total transaction of $2,075,000.00.
• On Tuesday, August 4th, K Janac sold 26,106 shares of Arteris stock. The stock was sold at an average price of $31.97, for a total transaction of $834,608.82.
• On Monday, August 3rd, K Janac sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total transaction of $2,216,820.00.

Arteris Stock Down 2.8%

NASDAQ:AIP traded down $0.69 during midday trading on Monday, reaching $23.97. 784,618 shares of the stock traded hands, compared to its average volume of 730,172. Arteris, Inc. has a 12-month low of $12.06 and a 12-month high of $50.26. The business has a 50-day moving average of $24.86 and a two-hundred day moving average of $28.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $1.18 billion, a PE ratio of -27.55 and a beta of 1.90.

Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%.The firm had revenue of $24.13 million during the quarter, compared to analysts' expectations of $23.48 million. On average, equities analysts forecast that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of Arteris

Several large investors have recently made changes to their positions in AIP. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Arteris in the 2nd quarter valued at $53,000. Versant Capital Management Inc grew 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. Allworth Financial LP acquired a new stake in shares of Arteris in the second quarter valued at about $87,000. State of Wyoming purchased a new position in shares of Arteris in the second quarter worth about $165,000. Finally, Royal Bank of Canada boosted its position 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 acquiring an additional 3,161 shares during the last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AIP. Roth Capital initiated coverage on Arteris in a research note on Tuesday, August 4th. They issued a "buy" rating and a $40.00 target price for the company. Craig Hallum initiated coverage on Arteris in a research note on Monday, September 21st. They set a "buy" rating and a $30.00 price objective for the company. Weiss Ratings raised Arteris from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Jefferies Financial Group upgraded Arteris from a "hold" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $50.00 in a research report on Friday, August 7th. Finally, Oppenheimer started coverage on shares of Arteris in a research note on Thursday, July 16th. They set an "outperform" rating and a $40.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.43.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company's portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.

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