Brokerages Set Arteris, Inc. (NASDAQ:AIP) Target Price at $41.00

Shares of Arteris, Inc. (NASDAQ:AIP) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $41.00.

A number of research firms have commented on AIP. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and lifted their target price for the company from $35.00 to $50.00 in a research report on Friday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $38.00 price target on shares of Arteris in a report on Friday, August 7th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Roth Capital assumed coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Oppenheimer initiated coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock.

Insiders Place Their Bets

In related news, CEO K Janac sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00. Following the sale, the chief executive officer owned 8,229,071 shares in the company, valued at approximately $170,753,223.25. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00. Following the transaction, the insider owned 8,229,071 shares of the company’s stock, valued at $170,753,223.25. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,207,704 shares of company stock valued at $39,166,487. Insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Needham Investment Management LLC boosted its holdings in Arteris by 2.6% in the fourth 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. BlackRock Inc. purchased a new stake in Arteris during the 2nd quarter worth about $160,129,000. California State Teachers Retirement System raised its position in Arteris by 105,728.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock valued at $87,829,000 after purchasing an additional 1,805,840 shares in the last quarter. Franklin Resources Inc. boosted its stake 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 buying an additional 101,646 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Arteris by 8.2% during the third 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 period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Stock Down 1.1%

NASDAQ AIP opened at $22.41 on Friday. Arteris has a 52 week low of $8.64 and a 52 week high of $50.26. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $28.07 and its 200-day simple moving average is $27.72. The firm has a market cap of $1.10 billion, a PE ratio of -25.76 and a beta of 1.91.

Arteris (NASDAQ:AIP) last posted its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The firm had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. As a group, equities analysts anticipate that Arteris will post -0.68 earnings per share for the current year.

Arteris Company Profile

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.