Analysts Set Arteris, Inc. (NASDAQ:AIP) Target Price at $17.50

Arteris, Inc. (NASDAQ:AIP) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.50.

Several equities analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Monday, December 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 note on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a report on Tuesday, October 28th.

Insider Buying and Selling

In related news, CEO K Charles Janac sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $13.10, for a total transaction of $1,310,000.00. Following the completion of the sale, the chief executive officer directly owned 9,739,071 shares of the company’s stock, valued at approximately $127,581,830.10. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $13.10, for a total value of $1,310,000.00. Following the transaction, the insider owned 9,739,071 shares of the company’s stock, valued at approximately $127,581,830.10. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 820,825 shares of company stock worth $12,276,775. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIP. Acadian Asset Management LLC grew its stake in Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after acquiring an additional 260,277 shares in the last quarter. Acuitas Investments LLC bought a new position in Arteris in the second quarter worth approximately $858,000. Worth Venture Partners LLC purchased a new position in Arteris during the 2nd quarter worth $451,000. Franklin Resources Inc. increased its holdings in Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after purchasing an additional 142,936 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Arteris during the 2nd quarter valued at $254,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Stock Down 1.7%

AIP stock opened at $16.16 on Friday. The company has a fifty day simple moving average of $14.75 and a two-hundred day simple moving average of $11.48. Arteris has a 52 week low of $5.46 and a 52 week high of $19.85. The firm has a market capitalization of $705.87 million, a P/E ratio of -19.47 and a beta of 1.49.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. The firm had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. As a group, analysts anticipate that Arteris will post -0.73 EPS for the current year.

About Arteris

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.