Insider Selling: Arteris, Inc. (NASDAQ:AIP) Director Sells 63,118 Shares of Stock

Key Points

• Arteris, Inc. Director Saiyed Atiq Raza sold 63,118 shares at an average price of $13.07, totaling approximately $824,952, reducing his ownership by 9.66%.
• The stock recently traded down to $9.31 with a market cap of $390.83 million, reflecting a significant change from its 1-year high of $14.29.
• Analysts at TD Cowen raised their price target for Arteris from $12.00 to $15.00 while maintaining a "buy" rating, indicating positive outlook for the company's growth.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 63,118 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $13.07, for a total value of $824,952.26. Following the sale, the director directly owned 590,000 shares in the company, valued at $7,711,300. This trade represents a 9.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, July 29th, Saiyed Atiq Raza sold 29,544 shares of Arteris stock. The shares were sold at an average price of $10.07, for a total transaction of $297,508.08.
• On Friday, July 18th, Saiyed Atiq Raza sold 1,136 shares of Arteris stock. The shares were sold at an average price of $10.00, for a total value of $11,360.00.
• On Friday, June 27th, Saiyed Atiq Raza sold 19,809 shares of Arteris stock. The shares were sold at an average price of $10.02, for a total transaction of $198,486.18.

Arteris Price Performance

Arteris stock traded down $0.58 during trading hours on Thursday, hitting $9.31. The stock had a trading volume of 2,288,956 shares, compared to its average volume of 535,557. The stock has a market capitalization of $390.83 million, a price-to-earnings ratio of -11.35 and a beta of 1.45. Arteris, Inc. has a 1-year low of $5.46 and a 1-year high of $14.29. The stock's fifty day moving average is $9.09 and its two-hundred day moving average is $8.40.

Hedge Funds Weigh In On Arteris

Hedge funds have recently added to or reduced their stakes in the business. Needham Investment Management LLC lifted its holdings in shares of Arteris by 2.5% in the first quarter. Needham Investment Management LLC now owns 2,812,500 shares of the company's stock valued at $19,434,000 after purchasing an additional 67,500 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Arteris by 9.6% in the 2nd quarter. Acadian Asset Management LLC now owns 987,011 shares of the company's stock valued at $9,403,000 after buying an additional 86,288 shares in the last quarter. Next Century Growth Investors LLC grew its holdings in Arteris by 46.4% during the 1st quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company's stock valued at $2,817,000 after buying an additional 129,143 shares during the last quarter. Federated Hermes Inc. increased its position in Arteris by 97.2% during the first quarter. Federated Hermes Inc. now owns 327,119 shares of the company's stock worth $2,260,000 after buying an additional 161,241 shares in the last quarter. Finally, Roubaix Capital LLC raised its holdings in shares of Arteris by 33.2% in the first quarter. Roubaix Capital LLC now owns 281,450 shares of the company's stock worth $1,945,000 after acquiring an additional 70,111 shares during the last quarter. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AIP shares. TD Cowen lifted their price target on Arteris from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. Rosenblatt Securities reiterated a "buy" rating and issued a $14.00 price target on shares of Arteris in a report on Wednesday, May 21st.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.

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