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

Arteris, Inc. (NASDAQ:AIP) has earned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $41.00.

Several research analysts have recently issued reports on AIP shares. Oppenheimer assumed coverage on shares of Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective 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 lifted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Rosenblatt Securities restated a “buy” rating and set a $38.00 price target on shares of Arteris in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arteris in a report on Friday, August 7th.

Arteris Trading Up 2.7%

Shares of Arteris stock opened at $28.18 on Monday. Arteris has a 1 year low of $8.42 and a 1 year high of $50.26. The company’s fifty day simple moving average is $35.37 and its 200-day simple moving average is $26.47. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -32.39 and a beta of 1.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last released its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. As a group, sell-side analysts expect that Arteris will post -0.58 EPS for the current year.

Insider Buying and Selling at Arteris

In other news, VP Paul L. Alpern sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.04, for a total transaction of $120,160.00. Following the completion of the transaction, the vice president directly owned 70,733 shares of the company’s stock, valued at approximately $2,124,819.32. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO K Charles Janac sold 26,106 shares of Arteris stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.97, for a total transaction of $834,608.82. Following the sale, the chief executive officer owned 8,329,071 shares in the company, valued at approximately $266,280,399.87. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,498,949 shares of company stock worth $52,200,293. Corporate insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Arteris

Large investors have recently modified their holdings of the stock. Huntleigh Advisors Inc. bought a new stake in Arteris during the fourth quarter worth about $1,832,000. Needham Investment Management LLC increased its stake in shares of Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock valued at $52,878,000 after buying an additional 86,500 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new stake in Arteris in the fourth quarter worth about $1,914,000. Sei Investments Co. raised its holdings in Arteris by 43.1% during the 1st quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock worth $2,799,000 after purchasing an additional 51,279 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Arteris during the 1st quarter worth about $2,124,000. 64.36% of the stock is currently owned by institutional investors.

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.