Arteris, Inc. (NASDAQ:AIP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $41.00.

A number of research firms have recently commented on AIP. Roth Capital initiated coverage on Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 target price on the stock. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Northland Securities set a $38.00 price target on Arteris in a research report on Wednesday, May 13th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, TD Cowen boosted their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th.

Arteris Stock Down 0.8%

AIP stock opened at $20.68 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of -23.77 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The firm’s fifty day moving average is $30.22 and its 200 day moving average is $27.45. Arteris has a one year low of $8.42 and a one year high of $50.26.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share 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 analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. On average, research analysts forecast that Arteris will post -0.68 EPS for the current year.

Insider Transactions at Arteris

In related news, VP Paul Alpern sold 4,000 shares of Arteris stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $20.77, for a total value of $83,080.00. Following the sale, the vice president owned 70,733 shares of the company’s stock, valued at approximately $1,469,124.41. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas Hawkins sold 10,431 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $28.26, for a total transaction of $294,780.06. Following the completion of the sale, the chief financial officer directly owned 95,666 shares of the company’s stock, valued at approximately $2,703,521.16. The trade was a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,347,704 shares of company stock worth $44,053,887 in the last ninety days. Company insiders own 23.30% of the company’s stock.

Institutional Trading of Arteris

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new position in shares of Arteris during the 2nd quarter worth about $471,000. California State Teachers Retirement System boosted its holdings in Arteris by 105,728.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock worth $87,829,000 after buying an additional 1,805,840 shares during the last quarter. AXQ Capital LP purchased a new stake in Arteris during the 2nd quarter worth approximately $661,000. Proficio Capital Partners LLC purchased a new stake in Arteris during the 2nd quarter worth approximately $231,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Arteris by 86.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,353 shares of the company’s stock valued at $1,329,000 after acquiring an additional 12,675 shares during the last quarter. 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.