Arteris (NASDAQ:AIP) Shares Gap Up – What’s Next?

Arteris, Inc. (NASDAQ:AIP)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $15.15, but opened at $16.00. Arteris shares last traded at $15.5820, with a volume of 24,709 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Arteris in a report on Monday, December 15th. Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. TD Cowen lifted their price objective on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group upgraded shares of 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 issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arteris currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Arteris Price Performance

The stock’s fifty day simple moving average is $14.63 and its 200-day simple moving average is $11.31. The firm has a market cap of $687.52 million, a PE ratio of -18.96 and a beta of 1.49.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.25%.The business had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. Analysts expect that Arteris, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Arteris

In related news, COO Laurent R. Moll sold 17,937 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $17.92, for a total transaction of $321,431.04. Following the completion of the transaction, the chief operating officer directly owned 257,222 shares in the company, valued at $4,609,418.24. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO K Charles Janac sold 70,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00. Following the completion of the sale, the chief executive officer directly owned 9,469,071 shares in the company, valued at approximately $167,697,247.41. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 820,825 shares of company stock worth $12,276,775 over the last ninety days. 29.10% of the stock is owned by insiders.

Institutional Trading of Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Westerly Capital Management LLC lifted its holdings in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after acquiring an additional 745,000 shares during the period. Granahan Investment Management LLC increased its holdings in shares of Arteris by 725.7% during the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after purchasing an additional 546,341 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock valued at $6,222,000 after purchasing an additional 260,277 shares during the period. AQR Capital Management LLC acquired a new position in shares of Arteris in the 1st quarter valued at $1,621,000. Finally, Roubaix Capital LLC purchased a new stake in Arteris during the third quarter worth $2,361,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.