Arteris (NASDAQ:AIP) Reaches New 1-Year High – What’s Next?

Arteris, Inc. (NASDAQ:AIP)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $45.50 and last traded at $44.0020, with a volume of 106859 shares changing hands. The stock had previously closed at $43.29.

Analyst Upgrades and Downgrades

AIP has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. TD Cowen lifted their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a research report on Wednesday, May 13th. Rosenblatt Securities lifted their price objective on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.75.

Arteris Stock Performance

The firm has a 50-day moving average price of $34.41 and a two-hundred day moving average price of $22.70. The firm has a market capitalization of $2.13 billion, a P/E ratio of -58.43 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million during the quarter, compared to the consensus estimate of $21.03 million. On average, analysts forecast that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at Arteris

In related news, CEO K Charles Janac sold 70,000 shares of Arteris stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $19.04, for a total value of $1,332,800.00. Following the completion of the sale, the chief executive officer directly owned 9,119,071 shares in the company, valued at $173,627,111.84. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Nicholas B. Hawkins sold 221,035 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $33.40, for a total transaction of $7,382,569.00. Following the completion of the sale, the chief financial officer directly owned 110,600 shares of the company’s stock, valued at approximately $3,694,040. This trade represents a 66.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,072,340 shares of company stock worth $32,223,334 over the last quarter. 33.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of Arteris by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 106,921 shares of the company’s stock valued at $1,758,000 after purchasing an additional 10,062 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after purchasing an additional 3,161 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Arteris by 21.5% during the first quarter. Quantinno Capital Management LP now owns 18,067 shares of the company’s stock valued at $297,000 after purchasing an additional 3,200 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Arteris during the first quarter valued at approximately $2,124,000. Finally, Granahan Investment Management LLC increased its holdings in Arteris by 201.0% during the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after buying an additional 476,181 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.