Key Points
- Director Raman Chitkara sold 5,000 shares of Arteris on May 5 at an average price of $30.05 for $150,250, a transaction disclosed to the SEC and executed under a pre-arranged Rule 10b5-1 trading plan, leaving him with 142,867 shares (a 3.38% ownership decrease).
- Those trades are part of a series — Chitkara also sold 5,000 shares on April 24 at $25.06 and 5,000 on April 14 at $20.05 — totaling 15,000 shares sold for roughly $375,800 between April 14 and May 5.
- Arteris (AIP) shares have recently fallen (stock down ~5.3%, opened at $29.75), the company has a market cap of ~$1.37 billion, and Wall Street's consensus rating is a "Hold" with an average price target of $20.17.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Raman Chitkara sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $30.05, for a total transaction of $150,250.00. Following the transaction, the director owned 142,867 shares in the company, valued at $4,293,153.35. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Raman Chitkara also recently made the following trade(s):
- On Friday, April 24th, Raman Chitkara sold 5,000 shares of Arteris stock. The shares were sold at an average price of $25.06, for a total transaction of $125,300.00.
- On Tuesday, April 14th, Raman Chitkara sold 5,000 shares of Arteris stock. The shares were sold at an average price of $20.05, for a total value of $100,250.00.
Arteris Stock Down 5.3%
Shares of AIP stock opened at $29.75 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -36.28 and a beta of 1.93. The stock has a 50-day moving average price of $19.44 and a 200 day moving average price of $16.75. Arteris, Inc. has a 12 month low of $6.88 and a 12 month high of $32.11.
Arteris (NASDAQ:AIP - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million during the quarter, compared to analyst estimates of $18.55 million. Sell-side analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Roubaix Capital LLC bought a new stake in Arteris during the 3rd quarter worth about $2,361,000. Granahan Investment Management LLC increased its position in shares of Arteris by 725.7% in the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after acquiring an additional 546,341 shares during the last quarter. Herald Investment Management Ltd increased its position in shares of Arteris by 33.3% in the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company's stock valued at $4,036,000 after acquiring an additional 100,000 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Arteris by 59.3% during the third quarter. GSA Capital Partners LLP now owns 132,079 shares of the company's stock worth $1,334,000 after acquiring an additional 49,153 shares in the last quarter. Finally, Huntleigh Advisors Inc. bought a new stake in Arteris during the fourth quarter worth about $1,832,000. Institutional investors own 64.36% of the company's stock.
Wall Street Analysts Forecast Growth
AIP has been the topic of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Arteris in a research note on Monday, April 20th. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Finally, Wall Street Zen cut shares of Arteris from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.17.
Get Our Latest Analysis 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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