Insider Selling: Arteris, Inc. (NASDAQ:AIP) CEO Sells 9,168 Shares of Stock

Arteris, Inc. (NASDAQ:AIP) CEO K Charles Janac sold 9,168 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $7.23, for a total transaction of $66,284.64. Following the completion of the sale, the chief executive officer now directly owns 296,070 shares of the company’s stock, valued at $2,140,586.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, July 1st, K Charles Janac sold 4,583 shares of Arteris stock. The shares were sold at an average price of $7.24, for a total value of $33,180.92.
• On Tuesday, June 4th, K Charles Janac sold 3,303 shares of Arteris stock. The stock was sold at an average price of $7.70, for a total value of $25,433.10.

Arteris Stock Performance

AIP stock remained flat at $7.21 during trading on Wednesday. The company had a trading volume of 111,247 shares, compared to its average volume of 192,153. The company’s 50 day moving average price is $7.81 and its 200 day moving average price is $6.95. Arteris, Inc. has a 12 month low of $4.20 and a 12 month high of $9.54. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $277.43 million, a P/E ratio of -7.00 and a beta of 1.11.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. Arteris had a negative return on equity of 198.35% and a negative net margin of 69.70%. The firm had revenue of $12.95 million during the quarter, compared to analyst estimates of $12.60 million. As a group, research analysts forecast that Arteris, Inc. will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Arteris

Several hedge funds have recently made changes to their positions in AIP. Vanguard Group Inc. increased its holdings in Arteris by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock valued at $8,390,000 after buying an additional 3,242 shares in the last quarter. Worth Venture Partners LLC increased its stake in shares of Arteris by 22.6% in the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock valued at $334,000 after purchasing an additional 9,448 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Arteris by 8.3% in the 3rd quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock valued at $846,000 after purchasing an additional 10,000 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Arteris in the 4th quarter worth about $60,000. Finally, Algert Global LLC purchased a new position in Arteris during the third quarter worth approximately $142,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of Arteris in a report on Friday, May 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $9.00 price target (down previously from $11.00) on shares of Arteris in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.40.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.