Arteris (NASDAQ:AIP) Price Target Raised to $20.00

Arteris (NASDAQ:AIP) had its target price hoisted by Rosenblatt Securities from $14.00 to $20.00 in a research note released on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. TD Cowen increased their price target on Arteris from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arteris presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Arteris Stock Down 2.8%

Shares of AIP stock opened at $14.48 on Wednesday. The firm has a 50 day moving average of $11.59 and a 200-day moving average of $9.64. The company has a market cap of $632.54 million, a price-to-earnings ratio of -17.45 and a beta of 1.49. Arteris has a 52 week low of $5.46 and a 52 week high of $15.92.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, August 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $16.50 million for the quarter, compared to the consensus estimate of $16.35 million. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. Analysts anticipate that Arteris will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other Arteris news, VP Paul L. Alpern sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $13.16, for a total value of $65,800.00. Following the completion of the sale, the vice president directly owned 65,960 shares of the company’s stock, valued at approximately $868,033.60. This represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO K Charles Janac sold 50,000 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $13.07, for a total transaction of $653,500.00. Following the completion of the sale, the chief executive officer owned 9,689,071 shares of the company’s stock, valued at approximately $126,636,157.97. This trade represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 503,980 shares of company stock valued at $6,221,305 over the last 90 days. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Arteris

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Arteris during the 2nd quarter valued at approximately $32,000. CWM LLC lifted its stake in Arteris by 4,810.1% in the first quarter. CWM LLC now owns 10,213 shares of the company’s stock valued at $71,000 after purchasing an additional 10,005 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Arteris during the first quarter valued at $95,000. Savant Capital LLC purchased a new stake in Arteris in the second quarter worth $97,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Arteris in the second quarter valued at $104,000. Institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

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.