Insider Selling: Arteris (NASDAQ:AIP) Director Sells 20,839 Shares of Stock

Key Points

• Arteris director Saiyed Atiq Raza sold 20,839 shares on June 3 at an average price of $37.39, totaling about $779,170. After the sale, he still owned 140,000 shares.
• Raza has been actively selling shares recently, including 70,000 shares on June 1 and 90,000 shares on May 1, along with additional sales in April.
• Arteris shares were trading near their 52-week high at $37.19, and the company recently reported a smaller-than-expected quarterly loss and revenue above estimates.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 20,839 shares of Arteris stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $37.39, for a total value of $779,170.21. Following the completion of the transaction, the director owned 140,000 shares in the company, valued at $5,234,600. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The stock was sold at an average price of $36.02, for a total value of $2,521,400.00.
• On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00.
• On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $378,049.60.
• On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $1,616,350.40.

Arteris Price Performance

Shares of NASDAQ AIP traded down $0.25 during mid-day trading on Thursday, reaching $37.19. The company had a trading volume of 821,492 shares, compared to its average volume of 670,530. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.72 billion, a PE ratio of -47.08 and a beta of 1.98. The company has a 50-day moving average price of $26.95 and a two-hundred day moving average price of $19.63. Arteris, Inc. has a 1-year low of $7.56 and a 1-year high of $38.99.

Arteris (NASDAQ:AIP - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. On average, equities analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake in shares of Arteris by 10.4% in the first quarter. Janus Henderson Group PLC now owns 106,921 shares of the company's stock worth $1,758,000 after purchasing an additional 10,062 shares during the period. Royal Bank of Canada increased its stake in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company's stock valued at $66,000 after acquiring an additional 3,161 shares during the period. Quantinno Capital Management LP raised its position in Arteris by 21.5% in the 1st quarter. Quantinno Capital Management LP now owns 18,067 shares of the company's stock valued at $297,000 after purchasing an additional 3,200 shares during the last quarter. Lazard Asset Management LLC bought a new position in Arteris in the 1st quarter valued at $2,124,000. Finally, Granahan Investment Management LLC raised its position in Arteris by 201.0% in the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company's stock valued at $11,723,000 after purchasing an additional 476,181 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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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