Raman Chitkara Sells 5,000 Shares of Arteris (NASDAQ:AIP) Stock

Key Points

• Director Raman Chitkara sold 5,000 shares of Arteris on April 14 at an average price of $20.05 for $100,250, reducing his stake by 3.17% while still holding 152,867 shares valued at about $3.06 million.
• Shares are trading around $21.52—near their 12‑month high of $21.57—and the company recently beat estimates with Q results showing EPS of ($0.05) vs. consensus ($0.08) and revenue of $20.14 million vs. $18.55 million expected.
• Analyst sentiment is mixed with a consensus "Hold" and $20.17 target, while institutional ownership is high (64.36%) and several funds, including Invesco, have recently added to positions.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Raman Chitkara sold 5,000 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $20.05, for a total value of $100,250.00. Following the completion of the transaction, the director directly owned 152,867 shares in the company, valued at $3,064,983.35. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arteris Stock Performance

Shares of AIP traded up $1.22 during trading hours on Thursday, hitting $21.52. The stock had a trading volume of 771,783 shares, compared to its average volume of 477,918. The firm has a market cap of $978.45 million, a P/E ratio of -26.24 and a beta of 1.43. The company's fifty day simple moving average is $16.26 and its 200 day simple moving average is $15.39. Arteris, Inc. has a 12-month low of $5.64 and a 12-month high of $21.57.

Arteris (NASDAQ:AIP - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to analysts' expectations of $18.55 million. As a group, sell-side analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Arteris by 28.0% during the fourth quarter. Invesco Ltd. now owns 17,499 shares of the company's stock worth $271,000 after acquiring an additional 3,830 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Arteris during the fourth quarter worth about $162,000. VestGen Advisors LLC purchased a new stake in shares of Arteris during the fourth quarter worth about $218,000. Tudor Investment Corp ET AL purchased a new stake in shares of Arteris during the fourth quarter worth about $2,473,000. Finally, Numerai GP LLC purchased a new stake in shares of Arteris during the fourth quarter worth about $390,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIP has been the topic of several research reports. Wall Street Zen raised Arteris from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Northland Securities set a $24.00 price objective on Arteris in a research report on Friday, February 13th. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Arteris in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arteris in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arteris has a consensus rating of "Hold" and a consensus target price of $20.17.

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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