Arteris (NASDAQ:AIP) Research Coverage Started at Craig Hallum

Craig Hallum began coverage on shares of Arteris (NASDAQ:AIP) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Roth Capital initiated coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective for the company. Oppenheimer initiated coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price on the stock. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $38.00 price target on shares of Arteris in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Arteris presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.43.

Arteris Price Performance

AIP stock opened at $24.19 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.19 billion, a PE ratio of -27.80 and a beta of 1.91. Arteris has a 12-month low of $9.46 and a 12-month high of $50.26. The business’s fifty day moving average price is $26.01 and its 200 day moving average price is $28.11.

Arteris (NASDAQ:AIP) last announced its earnings results 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 for 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, sell-side analysts anticipate that Arteris will post -0.68 EPS for the current year.

Insider Buying and Selling

In other news, Director Saiyed Raza sold 70,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $30.01, for a total value of $2,100,700.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 192,686 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the sale, the insider owned 8,555,047 shares in the company, valued at $310,719,307.04. The trade was a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,177,382 shares of company stock worth $37,652,509 over the last 90 days. 23.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently modified their holdings of AIP. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Arteris in the second quarter valued at $53,000. Versant Capital Management Inc boosted its position in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after acquiring an additional 290 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Arteris by 366.7% during the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock worth $66,000 after acquiring an additional 3,161 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Arteris in the 2nd quarter valued at about $87,000. Finally, State of Wyoming purchased a new position in shares of Arteris in the 2nd quarter valued at about $165,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company’s product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.