Insider Selling: Arteris (NASDAQ:AIP) CEO Sells 26,106 Shares of Stock

Key Points

• Arteris CEO K. Charles Janac sold 26,106 shares at an average price of $31.97, generating approximately $834,609. Following the sale, he still directly owned 8.33 million shares, and the transaction reduced his ownership by 0.31%.
• The sale followed several other insider transactions, including more than 73,000 shares sold on August 3 and substantial sales in June and July, indicating continued insider selling activity.
• Arteris shares traded at $30.93, while analysts maintained an overall “Moderate Buy” rating with an average price target of $38.50. The company recently exceeded quarterly EPS and revenue expectations, and institutional investors own 64.36% of its stock.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 26,106 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total value of $834,608.82. Following the transaction, the chief executive officer directly owned 8,329,071 shares of the company's stock, valued at $266,280,399.87. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 3rd, K Charles Janac sold 73,894 shares of Arteris stock. The stock was sold at an average price of $30.00, for a total value of $2,216,820.00.
• On Monday, July 6th, K Charles Janac sold 125,976 shares of Arteris stock. The stock was sold at an average price of $35.79, for a total value of $4,508,681.04.
• On Monday, July 6th, K Charles Janac sold 10,679 shares of Arteris stock. The shares were sold at an average price of $35.90, for a total value of $383,376.10.
• On Thursday, July 2nd, K Charles Janac sold 192,686 shares of Arteris stock. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52.
• On Thursday, July 2nd, K Charles Janac sold 10,902 shares of Arteris stock. The stock was sold at an average price of $38.78, for a total transaction of $422,779.56.
• On Monday, June 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00.
• On Friday, May 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $31.20, for a total transaction of $2,184,000.00.

Arteris Stock Performance

NASDAQ:AIP traded down $1.16 during mid-day trading on Wednesday, hitting $30.93. The stock had a trading volume of 521,833 shares, compared to its average volume of 734,745. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -39.15 and a beta of 1.96. The company has a 50 day simple moving average of $36.29 and a 200-day simple moving average of $25.97. Arteris, Inc. has a 52 week low of $8.42 and a 52 week high of $50.26. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, research analysts expect that Arteris, Inc. will post -0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIP. Rosenblatt Securities boosted their price objective on Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings cut Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a research note on Wednesday, May 13th. Wall Street Zen lowered Arteris from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Roth Capital began coverage on Arteris in a research note on Tuesday. They issued a "buy" rating and a $40.00 price target for the company. Four 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.50.

Institutional Trading of Arteris

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntleigh Advisors Inc. bought a new position in shares of Arteris in the fourth quarter valued at approximately $1,832,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Arteris during the fourth quarter worth approximately $1,914,000. Needham Investment Management LLC raised its holdings in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock worth $52,878,000 after purchasing an additional 86,500 shares in the last quarter. Granahan Investment Management LLC raised its holdings in Arteris by 201.0% during the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company's stock worth $11,723,000 after purchasing an additional 476,181 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Arteris in the first quarter worth approximately $2,124,000. 64.36% of the stock is currently owned by institutional investors.

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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