Arteris (NASDAQ:AIP) Director Raman Chitkara Sells 5,000 Shares
by Amy Steele · The Cerbat GemArteris, Inc. (NASDAQ:AIP – Get Free Report) Director Raman Chitkara sold 5,000 shares of Arteris stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $20.05, for a total value of $100,250.00. Following the sale, the director directly owned 152,867 shares in the company, valued at approximately $3,064,983.35. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Arteris Stock Performance
Shares of NASDAQ AIP traded up $1.22 during midday trading on Thursday, reaching $21.52. 771,783 shares of the company’s stock were exchanged, compared to its average volume of 477,918. Arteris, Inc. has a 52-week low of $5.64 and a 52-week high of $21.57. The stock has a market capitalization of $978.45 million, a PE ratio of -26.24 and a beta of 1.43. The business’s fifty day moving average price is $16.26 and its two-hundred day moving average price is $15.39.
Arteris (NASDAQ:AIP – Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Analysts predict that Arteris, Inc. will post -0.73 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on AIP shares. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Wall Street Zen upgraded Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Northland Securities set a $24.00 price target on Arteris in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Arteris has an average rating of “Hold” and an average price target of $20.17.
Check Out Our Latest Research Report on Arteris
Hedge Funds Weigh In On Arteris
A number of hedge funds and other institutional investors have recently bought and sold shares of AIP. Westerly Capital Management LLC boosted its stake in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after acquiring an additional 745,000 shares during the period. Nuveen LLC raised its holdings in shares of Arteris by 872.3% during the fourth quarter. Nuveen LLC now owns 737,281 shares of the company’s stock valued at $11,428,000 after buying an additional 661,454 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after buying an additional 598,840 shares during the last quarter. Granahan Investment Management LLC raised its holdings in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after buying an additional 546,341 shares during the last quarter. Finally, Informed Momentum Co LLC bought a new stake in shares of Arteris during the fourth quarter valued at approximately $5,755,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.
About Arteris
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.