Key Points
- Director Saiyed Atiq Raza sold 73,610 shares of Arteris on Feb. 26 at an average price of $17.14 for about $1.26M, and also sold 11,762 shares on Feb. 27 and 4,907 shares on Feb. 25, reducing his ownership by 12.58% to 511,483 shares valued at roughly $8.77M.
- Arteris beat quarterly estimates with ($0.05) EPS vs. a ($0.08) consensus and $20.14M in revenue vs. $18.55M expected; the company has a $772.5M market cap and a consensus analyst rating of “Hold” with an average target of $20.17.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 4,907 shares of the company's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $17.00, for a total transaction of $83,419.00. Following the completion of the sale, the director directly owned 585,093 shares of the company's stock, valued at $9,946,581. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Saiyed Atiq Raza also recently made the following trade(s):
- On Friday, February 27th, Saiyed Atiq Raza sold 11,762 shares of Arteris stock. The stock was sold at an average price of $17.01, for a total value 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.
Arteris Stock Down 1.3%
Shares of NASDAQ AIP opened at $16.99 on Friday. The business's 50 day moving average is $15.88 and its two-hundred day moving average is $13.64. Arteris, Inc. has a 52-week low of $5.46 and a 52-week high of $19.85. The firm has a market cap of $772.54 million, a price-to-earnings ratio of -20.72 and a beta of 1.47.
Arteris (NASDAQ:AIP - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analysts' expectations of $18.55 million. Analysts anticipate that Arteris, Inc. will post -0.73 EPS for the current fiscal year.
Institutional Investors Weigh In On Arteris
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC lifted its stake in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock worth $52,878,000 after purchasing an additional 86,500 shares during the last quarter. Franklin Resources Inc. raised its holdings in Arteris by 6.2% during the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company's stock worth $27,017,000 after purchasing an additional 101,646 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arteris by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company's stock worth $16,103,000 after buying an additional 120,947 shares during the last quarter. Westerly Capital Management LLC boosted its holdings in shares of Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company's stock valued at $14,392,000 after buying an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Arteris by 144.7% in the 4th 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. Institutional investors and hedge funds own 64.36% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on AIP. TD Cowen reissued a "buy" rating on shares of Arteris in a research report on Wednesday, November 5th. Northland Securities set a $24.00 price objective on Arteris in a research note on Friday, February 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price target on shares of Arteris in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.17.
Get Our Latest Stock Analysis on AIP
About Arteris
(
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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