Insider Selling: Arteris (NASDAQ:AIP) CEO Sells 70,000 Shares of Stock

Key Points

• Arteris CEO K Charles Janac sold 70,000 shares on June 8 at an average price of $34.91, totaling about $2.44 million. After the sale, he still owned about 8.93 million shares.
• This was part of a recent pattern of insider selling, with Janac also selling 70,000 shares each on May 8 and April 8, plus several smaller sales in late March and early April.
• Arteris has recently posted mixed but improving business results, beating Q1 earnings and revenue estimates, while analysts currently rate the stock a consensus Hold with a $37.75 price target.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) CEO K Charles Janac sold 70,000 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.91, for a total transaction of $2,443,700.00. Following the transaction, the chief executive officer owned 8,929,071 shares of the company's stock, valued at approximately $311,713,868.61. The trade was a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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.
• On Wednesday, April 8th, K Charles Janac sold 70,000 shares of Arteris stock. The stock was sold at an average price of $19.04, for a total transaction of $1,332,800.00.
• On Thursday, April 2nd, K Charles Janac sold 9,009 shares of Arteris stock. The shares were sold at an average price of $17.65, for a total transaction of $159,008.85.
• On Monday, April 6th, K Charles Janac sold 11,800 shares of Arteris stock. The shares were sold at an average price of $18.34, for a total transaction of $216,412.00.
• On Thursday, March 26th, K Charles Janac sold 32,988 shares of Arteris stock. The shares were sold at an average price of $18.35, for a total transaction of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The shares were sold at an average price of $18.03, for a total transaction of $126,426.36.

Arteris Price Performance

NASDAQ AIP traded down $0.25 during trading hours on Wednesday, reaching $33.51. The company's stock had a trading volume of 811,289 shares, compared to its average volume of 675,542. The stock has a market cap of $1.55 billion, a PE ratio of -42.42 and a beta of 1.98. Arteris, Inc. has a fifty-two week low of $7.92 and a fifty-two week high of $38.99. The company's 50-day moving average is $28.39 and its two-hundred day moving average is $20.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. Analysts forecast that Arteris, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen raised their price target on shares of Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 price target on shares of Arteris in a research note on Wednesday, May 13th. Jefferies Financial Group lifted their price target on shares of Arteris from $16.00 to $35.00 and gave the stock a "hold" rating in a research note on Wednesday, May 13th. Rosenblatt Securities boosted their target price on shares of Arteris from $20.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $37.75.

Institutional Trading of Arteris

A number of hedge funds have recently bought and sold shares of AIP. AQR Capital Management LLC purchased a new stake in Arteris during the first quarter valued at about $1,621,000. Strs Ohio bought a new stake in shares of Arteris during the 1st quarter worth $104,000. Geode Capital Management LLC boosted its holdings in Arteris by 4.8% during the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company's stock valued at $6,222,000 after acquiring an additional 30,018 shares during the period. Rhumbline Advisers grew its stake in shares of Arteris by 35.8% in the second quarter. Rhumbline Advisers now owns 54,416 shares of the company's stock worth $519,000 after acquiring an additional 14,350 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Arteris by 8.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 320,332 shares of the company's stock worth $3,053,000 after acquiring an additional 25,448 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

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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