Key Points
- Arteris director Saiyed Atiq Raza sold 20,839 shares on June 3 at an average price of $37.39, generating about $779,170 and reducing his direct stake by 12.96% to 140,000 shares.
- Raza has been active in selling Arteris stock recently, including transactions of 70,000 shares on June 1 and 90,000 shares on May 1, along with additional sales in April.
- Arteris reported better-than-expected quarterly results, with EPS of -$0.03 versus an expected -$0.08 and revenue of $22.94 million versus $21.03 million, while analysts currently hold a consensus rating of Hold with a $37.75 target price.
Arteris, Inc. (NASDAQ:AIP - Get Free Report) Director Saiyed Atiq Raza sold 20,839 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $37.39, for a total value of $779,170.21. Following the completion of the transaction, the director directly owned 140,000 shares in the company, valued at $5,234,600. The trade was a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Saiyed Atiq Raza also recently made the following trade(s):
- On Monday, June 1st, Saiyed Atiq Raza sold 70,000 shares of Arteris stock. The stock was sold at an average price of $36.02, for a total value of $2,521,400.00.
- On Friday, May 1st, Saiyed Atiq Raza sold 90,000 shares of Arteris stock. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00.
- On Monday, April 20th, Saiyed Atiq Raza sold 17,060 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $378,049.60.
- On Friday, April 17th, Saiyed Atiq Raza sold 72,940 shares of Arteris stock. The stock was sold at an average price of $22.16, for a total value of $1,616,350.40.
Arteris Stock Performance
Shares of Arteris stock opened at $37.19 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of -47.08 and a beta of 1.98. Arteris, Inc. has a 12 month low of $7.56 and a 12 month high of $38.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock's fifty day simple moving average is $27.36 and its 200 day simple moving average is $19.79.
Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analyst estimates of $21.03 million. On average, research analysts predict that Arteris, Inc. will post -0.54 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Wall Street Zen cut Arteris from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Rosenblatt Securities increased their target price on Arteris from $20.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings cut Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. TD Cowen increased their target price on Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Northland Securities set a $38.00 target price on Arteris in a report on Wednesday, May 13th. Two 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. According to MarketBeat.com, Arteris has a consensus rating of "Hold" and a consensus target price of $37.75.
Check Out Our Latest Analysis on AIP
Hedge Funds Weigh In On Arteris
A number of large investors have recently modified their holdings of the business. Needham Investment Management LLC raised its holdings in shares of Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company's stock valued at $52,878,000 after purchasing an additional 86,500 shares during the period. Franklin Resources Inc. raised its holdings in shares of Arteris by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company's stock valued at $27,017,000 after purchasing an additional 101,646 shares during the period. Vanguard Group Inc. raised its holdings in shares of Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company's stock valued at $16,103,000 after purchasing an additional 120,947 shares during the period. Westerly Capital Management LLC raised 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 purchasing an additional 745,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings 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 purchasing an additional 598,840 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.
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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