Saiyed Atiq Raza Sells 70,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) Director Saiyed Atiq Raza sold 70,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $36.02, for a total value of $2,521,400.00. Following the completion of the sale, the director directly owned 140,000 shares in the company, valued at approximately $5,042,800. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, June 3rd, Saiyed Atiq Raza sold 20,839 shares of Arteris stock. The stock was sold at an average price of $37.39, for a total value of $779,170.21.
• 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 Trading Down 0.7%

Arteris stock opened at $37.19 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. Arteris, Inc. has a one year low of $7.56 and a one year high of $38.99. The stock has a market capitalization of $1.72 billion, a PE ratio of -47.08 and a beta of 1.98. The business’s fifty day moving average is $27.36 and its 200 day moving average is $19.79.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. On average, sell-side analysts predict that Arteris, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AIP. Raymond James Financial Inc. bought a new position in Arteris in the second quarter valued at about $32,000. BNP Paribas Financial Markets lifted its holdings in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares during the period. Royal Bank of Canada lifted its holdings in Arteris by 366.7% in 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. Strs Ohio bought a new position in Arteris in the first quarter valued at about $104,000. Finally, Penn Capital Management Company LLC bought a new position in Arteris in the third quarter valued at about $109,000. Institutional investors own 64.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen increased their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Northland Securities set a $38.00 price objective on Arteris 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. Finally, Rosenblatt Securities increased their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Two 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’s stock. According to data from MarketBeat.com, Arteris currently has a consensus rating of “Hold” and a consensus price target 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.