Arteris (NASDAQ:AIP) Trading Up 6.4% – Time to Buy?

Shares of Arteris, Inc. (NASDAQ:AIP) shot up 6.4% on Friday . The company traded as high as $14.78 and last traded at $15.3150. 32,455 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 464,617 shares. The stock had previously closed at $14.40.

Analysts Set New Price Targets

AIP has been the subject of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Northland Securities set a $24.00 price target on 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group raised shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

Arteris Price Performance

The firm has a 50-day moving average price of $15.84 and a two-hundred day moving average price of $13.39. The company has a market capitalization of $674.23 million, a price-to-earnings ratio of -18.10 and a beta of 1.47.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to the consensus estimate of $18.55 million. On average, equities analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Insider Activity at Arteris

In related news, CEO K Charles Janac sold 2,756 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $15.03, for a total transaction of $41,422.68. Following the completion of the transaction, the chief executive officer directly owned 9,349,071 shares of the company’s stock, valued at approximately $140,516,537.13. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul L. Alpern sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $15.48, for a total value of $77,400.00. Following the completion of the transaction, the vice president owned 57,650 shares of the company’s stock, valued at approximately $892,422. This represents a 7.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 689,072 shares of company stock valued at $11,525,611. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIP. Needham Investment Management LLC increased its stake 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 last quarter. Franklin Resources Inc. boosted its stake in Arteris by 6.2% in the fourth quarter. Franklin Resources Inc. now owns 1,743,031 shares of the company’s stock valued at $27,017,000 after buying an additional 101,646 shares in the last quarter. Vanguard Group Inc. grew its position in Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after acquiring an additional 120,947 shares during the last quarter. Westerly Capital Management LLC raised its stake in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after acquiring an additional 745,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after acquiring an additional 598,840 shares during the last quarter. 64.36% of the stock is owned by institutional investors.

About Arteris

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.