TD Cowen Issues Pessimistic Forecast for Arteris (NASDAQ:AIP) Stock Price

Arteris (NASDAQ:AIP) had its price objective reduced by analysts at TD Cowen from $40.00 to $25.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 31.03% from the stock’s previous close.

A number of other brokerages have also recently commented on AIP. Rosenblatt Securities reissued a “buy” rating and set a $38.00 target price on shares of Arteris in a report on Friday, August 7th. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Oppenheimer initiated coverage on Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. Weiss Ratings upgraded Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, Craig Hallum began coverage on Arteris in a research note on Monday, September 21st. They issued a “buy” rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.29.

Arteris Stock Performance

AIP stock opened at $19.08 on Monday. Arteris has a 52 week low of $12.06 and a 52 week high of $50.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a 50-day simple moving average of $23.06 and a 200-day simple moving average of $28.97.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results 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). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The company had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. On average, analysts predict that Arteris will post -0.68 EPS for the current year.

Insider Buying and Selling at Arteris

In other Arteris news, COO Laurent R. Moll sold 12,219 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $24.29, for a total value of $296,799.51. Following the completion of the sale, the chief operating officer owned 194,659 shares in the company, valued at approximately $4,728,267.11. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the completion of the transaction, the insider directly owned 8,229,071 shares in the company, valued at $170,753,223.25. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 752,631 shares of company stock valued at $19,147,283. Insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AIP. BlackRock Inc. acquired a new stake in shares of Arteris in the 2nd quarter worth $160,129,000. Granahan Investment Management LLC raised its holdings in shares of Arteris by 201.0% during the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after acquiring an additional 476,181 shares during the period. Algert Global LLC purchased a new position in shares of Arteris during the 2nd quarter worth $11,602,000. Bank of America Corp DE acquired a new position in shares of Arteris during the 2nd quarter valued at about $7,686,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Arteris by 12,206.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,891 shares of the company’s stock valued at $7,672,000 after acquiring an additional 156,608 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.