Arteris, Inc. (NASDAQ:AIP) Stock Has Consensus Target Price of $39.43 According to Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.43.

A number of research firms have issued reports on AIP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 price target on shares of Arteris in a report on Friday, August 7th. Craig Hallum began coverage on shares of Arteris in a report on Monday, September 21st. They set a “buy” rating and a $30.00 price objective on the stock. Roth Capital assumed coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 target price on the stock. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st.

Insider Activity

In related news, CEO K Janac sold 125,976 shares of Arteris stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $35.79, for a total transaction of $4,508,681.04. Following the completion of the sale, the chief executive officer owned 8,429,071 shares of the company’s stock, valued at $301,676,451.09. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Saiyed Raza sold 70,000 shares of the company’s stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 766,484 shares of company stock valued at $22,665,900. Company insiders own 23.30% of the company’s stock.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd acquired a new stake in Arteris during the 2nd quarter valued at approximately $384,000. Spark Investment Management LLC acquired a new stake in shares of Arteris in the second quarter worth $1,074,000. Arizona State Retirement System purchased a new position in shares of Arteris during the second quarter worth $442,000. Corient Private Wealth LP purchased a new position in shares of Arteris during the second quarter worth $471,000. Finally, AXQ Capital LP purchased a new position in shares of Arteris during the second quarter worth $661,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Stock Performance

AIP opened at $24.01 on Tuesday. Arteris has a 52-week low of $10.63 and a 52-week high of $50.26. 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 company has a market cap of $1.18 billion, a P/E ratio of -27.60 and a beta of 1.90. The firm’s 50-day moving average price is $24.97 and its 200-day moving average price is $28.48.

Arteris (NASDAQ:AIP) last released 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 company had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. As a group, equities analysts anticipate that Arteris will post -0.68 EPS for the current fiscal year.

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.