Arteris (NASDAQ:AIP) Given New $16.50 Price Target at TD Cowen

Arteris (NASDAQ:AIP) had its target price raised by equities research analysts at TD Cowen from $15.00 to $16.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 8.20% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Cowen reissued a “buy” rating on shares of Arteris in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Rosenblatt Securities increased their price objective on shares of Arteris from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Arteris Price Performance

AIP stock traded up $2.93 on Wednesday, hitting $15.25. 1,136,550 shares of the company were exchanged, compared to its average volume of 580,967. Arteris has a twelve month low of $5.46 and a twelve month high of $15.69. The business’s fifty day moving average is $11.27 and its two-hundred day moving average is $9.50. The stock has a market capitalization of $650.41 million, a price-to-earnings ratio of -18.71 and a beta of 1.49.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Arteris had a negative net margin of 52.41% and a negative return on equity of 8,546.17%. The firm had revenue of $16.50 million during the quarter, compared to analyst estimates of $16.35 million. Equities research analysts expect that Arteris will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Arteris

In other news, VP Paul L. Alpern sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $8.88, for a total value of $88,800.00. Following the transaction, the vice president directly owned 73,587 shares in the company, valued at approximately $653,452.56. This trade represents a 11.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Laurent R. Moll sold 42,692 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $8.94, for a total transaction of $381,666.48. Following the completion of the transaction, the chief operating officer owned 399,379 shares in the company, valued at approximately $3,570,448.26. The trade was a 9.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 466,205 shares of company stock valued at $5,650,115. Corporate insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Arteris in the 1st quarter worth about $95,000. CWM LLC increased its holdings in shares of Arteris by 4,810.1% in the 1st quarter. CWM LLC now owns 10,213 shares of the company’s stock worth $71,000 after acquiring an additional 10,005 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Arteris in the 1st quarter worth about $328,000. Federated Hermes Inc. increased its holdings in shares of Arteris by 97.2% in the 1st quarter. Federated Hermes Inc. now owns 327,119 shares of the company’s stock worth $2,260,000 after acquiring an additional 161,241 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Arteris in the 1st quarter worth about $349,000. 64.36% of the stock is currently owned by institutional investors.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.