Stock market today: S&P 500 extends monthly win streak despite Nvidia-led stumble
Arteris , Inc. (NASDAQ:AIP), whose stock has declined over 41% year-to-date and is currently trading near its 52-week low of $5.76, recently saw a series of stock sales by its President and CEO, Janac K. Charles. According to InvestingPro data, despite the recent price weakness, the company maintains impressive gross profit margins of nearly 90%. According to a recent SEC filing, Charles sold a total of 16,300 shares of the company’s common stock over two days. On April 2, he sold 7,150 shares at an average price of $7.1186, totaling approximately $50,897. The following day, April 3, he sold an additional 9,150 shares at a weighted average price of $6.617, amounting to about $60,545. These transactions were made under a 10b5-1 trading plan, which Charles had adopted on February 27, 2024. Following these sales, Charles continues to hold a significant number of shares in the company both directly and indirectly. Notably, while the stock appears oversold based on technical indicators, analysts maintain price targets ranging from $11 to $16, suggesting potential upside from current levels.
In other recent news, Arteris, Inc. has reported revenue that met expectations for the quarter, with guidance aligning with forecasts. Northland analysts have responded by raising their price target for Arteris shares from $14.00 to $16.00, maintaining an Outperform rating. This adjustment comes as Arteris announced its new product, FlexGen, which is expected to provide a 30% average selling price uplift, with 13 customers currently evaluating it. Meanwhile, Jefferies analyst Blayne Curtis also increased Arteris’ price target from $7.00 to $11.00, maintaining a Hold rating, citing recent progress in the microcontroller unit market and the potential of the FlexGen solution.
Despite these positive developments, Jefferies remains cautious due to lower-than-expected 2025 guidance. Additionally, Arteris has disclosed the resignation of board member Isabelle F. Geday for personal reasons, with no immediate plans for her replacement. Geday’s departure was announced in a recent SEC filing, and her contribution to the board since 2020 has been acknowledged as exemplary. Arteris continues to navigate the competitive semiconductor industry, with these recent developments reflecting strategic shifts that could influence its financial performance in the future.
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