Arteris (NASDAQ:AIP) Raised to Buy at Wall Street Zen

Arteris (NASDAQ:AIP) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

AIP has been the topic of a number of other research reports. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Northland Securities set a $24.00 target price on shares of Arteris in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arteris has a consensus rating of “Hold” and an average price target of $20.17.

Arteris Stock Performance

NASDAQ:AIP opened at $15.14 on Friday. Arteris has a 1 year low of $5.46 and a 1 year high of $19.85. The stock has a market cap of $688.42 million, a P/E ratio of -18.46 and a beta of 1.45. The stock has a 50-day simple moving average of $15.65 and a 200-day simple moving average of $14.33.

Arteris (NASDAQ:AIP) last issued its earnings results on Thursday, February 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $20.14 million for the quarter, compared to analyst estimates of $18.55 million. On average, equities research analysts predict that Arteris will post -0.73 EPS for the current year.

Insider Buying and Selling

In other Arteris news, CEO K Charles Janac sold 50,000 shares of Arteris stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $16.58, for a total transaction of $829,000.00. Following the transaction, the chief executive officer owned 9,419,071 shares of the company’s stock, valued at $156,168,197.18. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $16.58, for a total value of $829,000.00. Following the completion of the sale, the insider owned 9,419,071 shares of the company’s stock, valued at approximately $156,168,197.18. This represents a 0.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 596,196 shares of company stock worth $9,657,120 in the last quarter. 33.70% of the stock is owned by insiders.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently bought and sold shares of AIP. Invesco Ltd. grew its position in Arteris by 28.0% during the 4th quarter. Invesco Ltd. now owns 17,499 shares of the company’s stock worth $271,000 after purchasing an additional 3,830 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Arteris in the fourth quarter valued at about $162,000. VestGen Advisors LLC purchased a new stake in shares of Arteris in the fourth quarter valued at about $218,000. Tudor Investment Corp ET AL acquired a new stake in shares of Arteris during the fourth quarter worth about $2,473,000. Finally, Numerai GP LLC acquired a new stake in shares of Arteris during the fourth quarter worth about $390,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.