K Charles Janac Sells 70,000 Shares of Arteris (NASDAQ:AIP) Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 70,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $34.91, for a total transaction of $2,443,700.00. Following the completion of the transaction, the chief executive officer directly owned 8,929,071 shares in the company, valued at $311,713,868.61. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were 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 stock was 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 value of $605,329.80.
• On Wednesday, March 25th, K Charles Janac sold 7,012 shares of Arteris stock. The stock was sold at an average price of $18.03, for a total value of $126,426.36.

Arteris Stock Performance

Shares of Arteris stock opened at $37.31 on Friday. The company has a market cap of $1.72 billion, a PE ratio of -47.23 and a beta of 1.98. Arteris, Inc. has a 52 week low of $7.92 and a 52 week high of $38.99. The business has a 50 day moving average price of $29.17 and a 200-day moving average price of $20.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Equities analysts anticipate that Arteris, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently made changes to their positions in AIP. Raymond James Financial Inc. bought a new position in Arteris during the second quarter valued at about $32,000. BNP Paribas Financial Markets raised its position in Arteris by 75.0% in the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares during the period. Royal Bank of Canada raised its position in Arteris by 366.7% in the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares during the period. Strs Ohio purchased a new position in Arteris in the first quarter valued at about $104,000. Finally, Penn Capital Management Company LLC purchased a new position in Arteris in the third quarter valued at about $109,000. 64.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AIP shares. Northland Securities set a $38.00 target price on shares of Arteris in a report on Wednesday, May 13th. Weiss Ratings cut shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Rosenblatt Securities upped their price objective on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. TD Cowen lifted their target price on shares of Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.