Arteris, Inc. (NASDAQ:AIP) Director Sells $824,952.26 in 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 Arteris stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $13.07, for a total transaction of $824,952.26. Following the sale, the director directly owned 590,000 shares in the company, valued at $7,711,300. The trade was a 9.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 transaction of $11,360.00.
• On Friday, June 27th, Saiyed Atiq Raza sold 19,809 shares of Arteris stock. The stock was sold at an average price of $10.02, for a total transaction of $198,486.18.

Arteris Stock Up 0.2%

Shares of NASDAQ AIP traded up $0.02 during mid-day trading on Monday, hitting $9.32. 159,347 shares of the company traded hands, compared to its average volume of 538,752. Arteris, Inc. has a 1 year low of $5.46 and a 1 year high of $14.29. The business has a 50 day moving average of $9.15 and a two-hundred day moving average of $8.32. The stock has a market capitalization of $397.28 million, a price-to-earnings ratio of -11.37 and a beta of 1.45.

Analysts Set New Price Targets

Several brokerages have issued reports on AIP. TD Cowen lifted their target price on shares of Arteris from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Rosenblatt Securities reissued a "buy" rating and issued a $14.00 price objective on shares of Arteris in a report on Wednesday, May 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Arteris by 6.0% during the fourth quarter. American Century Companies Inc. now owns 30,357 shares of the company's stock valued at $309,000 after buying an additional 1,731 shares during the period. Wells Fargo & Company MN raised its stake in shares of Arteris by 38.9% in the 4th quarter. Wells Fargo & Company MN now owns 13,192 shares of the company's stock valued at $134,000 after acquiring an additional 3,694 shares during the period. Quarry LP purchased a new stake in Arteris in the 4th quarter valued at $46,000. GAMMA Investing LLC grew its stake in Arteris by 11,823.3% in the 1st quarter. GAMMA Investing LLC now owns 5,127 shares of the company's stock valued at $350,000 after acquiring an additional 5,084 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Arteris by 13.5% during the fourth quarter. Barclays PLC now owns 44,723 shares of the company's stock valued at $456,000 after purchasing an additional 5,327 shares during the period. 64.36% of the stock is currently owned by institutional investors.

About Arteris

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.