Brokerages Set Arteris, Inc. (NASDAQ:AIP) PT at $41.00

Shares of Arteris, Inc. (NASDAQ:AIP) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $41.00.

Several analysts have issued reports on the stock. Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen boosted their price target on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price target on the stock. Roth Capital initiated coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Northland Securities set a $38.00 price objective on Arteris in a research note on Wednesday, May 13th.

Arteris Stock Performance

Shares of AIP opened at $28.32 on Monday. Arteris has a twelve month low of $8.42 and a twelve month high of $50.26. The stock has a market cap of $1.39 billion, a PE ratio of -32.55 and a beta of 1.96. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $35.06 and its 200-day moving average price is $26.64.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. On average, equities analysts forecast that Arteris will post -0.58 EPS for the current fiscal year.

Insider Transactions at Arteris

In other Arteris news, VP Paul L. Alpern sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.04, for a total value of $120,160.00. Following the sale, the vice president owned 70,733 shares of the company’s stock, valued at $2,124,819.32. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO K Charles Janac sold 26,106 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.97, for a total value of $834,608.82. Following the transaction, the chief executive officer directly owned 8,329,071 shares of the company’s stock, valued at $266,280,399.87. The trade was a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,288,545 shares of company stock worth $45,118,304. 23.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arteris

A number of institutional investors have recently made changes to their positions in AIP. BlackRock Inc. purchased a new position in Arteris in the second quarter worth $160,129,000. Westerly Capital Management LLC raised its position in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares in the last quarter. Nuveen LLC raised its position in Arteris by 872.3% during the fourth quarter. Nuveen LLC now owns 737,281 shares of the company’s stock valued at $11,428,000 after purchasing an additional 661,454 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Arteris by 144.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock worth $15,696,000 after purchasing an additional 598,840 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in shares of Arteris by 201.0% in the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after purchasing an additional 476,181 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

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.