Arteris, Inc. (NASDAQ:AIP) Stock Has Average Target Price of $37.29

Shares of Arteris, Inc. (NASDAQ:AIP) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $37.29.

AIP has been the topic of a number of recent analyst reports. Craig Hallum started coverage on Arteris in a research note on Monday, September 21st. They set a “buy” rating and a $30.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 price target on shares of Arteris in a report on Friday, August 7th. TD Cowen decreased their target price on Arteris from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $50.00 in a research note on Friday, August 7th.

Arteris Stock Performance

AIP opened at $19.06 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $936.80 million, a PE ratio of -21.91 and a beta of 1.90. The business has a fifty day simple moving average of $22.40 and a 200 day simple moving average of $28.94. Arteris has a 1 year low of $12.06 and a 1 year high of $50.26.

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

Insider Activity at Arteris

In related news, CEO K Janac sold 100,000 shares of Arteris stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the completion of the transaction, the chief executive officer directly 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of Arteris stock in a transaction dated 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 completion of the transaction, the insider directly owned 8,229,071 shares of the company’s stock, valued at approximately $170,753,223.25. This represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 752,631 shares of company stock worth $19,147,283 over the last ninety days. Corporate insiders own 23.30% of the company’s stock.

Institutional Trading of Arteris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after buying an additional 290 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Arteris by 106.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,730 shares of the company’s stock valued at $41,000 after buying an additional 890 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Arteris by 612.5% during the third quarter. Sterling Capital Management LLC now owns 1,197 shares of the company’s stock valued at $28,000 after purchasing an additional 1,029 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Arteris during the 2nd quarter valued at $53,000. Finally, Nisa Investment Advisors LLC boosted its stake in Arteris by 55.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,714 shares of the company’s stock worth $111,000 after purchasing an additional 1,690 shares during the period. 64.36% of the stock is currently owned by institutional investors and hedge funds.

About Arteris

Arteris, Inc is a semiconductor intellectual property (IP) company that provides technology used to design and integrate complex systems-on-chip (SoCs). Its products help semiconductor and system developers connect, manage and verify the various processing, memory and specialized functional components incorporated into modern chips.

The company’s portfolio includes network-on-chip (NoC) interconnect and semiconductor IP solutions, including its FlexNoC interconnect technology, Ncore cache-coherent interconnect IP and CodaCache products.