Arteris (NASDAQ:AIP) Director Saiyed Atiq Raza Sells 72,940 Shares

by · The Cerbat Gem

Arteris, Inc. (NASDAQ:AIP – Get Free Report) Director Saiyed Atiq Raza sold 72,940 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $22.16, for a total transaction of $1,616,350.40. Following the transaction, the director directly owned 317,060 shares of the company’s stock, valued at $7,026,049.60. The trade was a 18.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The shares were sold at an average price of $22.16, for a total transaction of $378,049.60.
  • On Wednesday, March 4th, Saiyed Atiq Raza sold 3,690 shares of Arteris stock. The shares were sold at an average price of $17.02, for a total transaction of $62,803.80.
  • On Monday, March 2nd, Saiyed Atiq Raza sold 106,031 shares of Arteris stock. The shares were sold at an average price of $17.21, for a total transaction of $1,824,793.51.
  • On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The shares were sold at an average price of $17.01, for a total transaction of $200,071.62.
  • On Thursday, February 26th, Saiyed Atiq Raza sold 73,610 shares of Arteris stock. The shares were sold at an average price of $17.14, for a total transaction of $1,261,675.40.
  • On Wednesday, February 25th, Saiyed Atiq Raza sold 4,907 shares of Arteris stock. The shares were sold at an average price of $17.00, for a total transaction of $83,419.00.

Arteris Trading Up 4.2%

Shares of NASDAQ:AIP opened at $23.58 on Wednesday. The company has a 50 day moving average of $16.88 and a 200-day moving average of $15.76. The firm has a market cap of $1.07 billion, a P/E ratio of -28.76 and a beta of 1.43. Arteris, Inc. has a twelve month low of $5.72 and a twelve month high of $24.10.

Arteris (NASDAQ:AIP – Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Equities research analysts forecast that Arteris, Inc. will post -0.68 EPS for the current year.

Institutional Trading of Arteris

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Arteris during the second quarter valued at approximately $32,000. BNP Paribas Financial Markets lifted its stake in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares during the last quarter. Strs Ohio acquired a new stake in Arteris during the first quarter valued at approximately $104,000. Penn Capital Management Company LLC acquired a new stake in Arteris during the third quarter valued at approximately $109,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Arteris during the third quarter valued at approximately $113,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AIP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Arteris in a research note on Friday, February 13th. Northland Securities set a $24.00 price target on shares of Arteris in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Arteris from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.17.

Read Our Latest Report on Arteris

Arteris Company Profile

(Get Free Report)

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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