Analysts Set Arteris, Inc. (NASDAQ:AIP) Target Price at $17.50

Shares of Arteris, Inc. (NASDAQ:AIP) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.50.

A number of equities research analysts have recently weighed in on AIP shares. TD Cowen boosted their price target on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Monday, December 15th. Jefferies Financial Group upgraded shares of Arteris to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th.

Insider Buying and Selling at Arteris

In related news, COO Laurent R. Moll sold 32,775 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $15.42, for a total transaction of $505,390.50. Following the completion of the transaction, the chief operating officer directly owned 311,110 shares in the company, valued at $4,797,316.20. This represents a 9.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO K Charles Janac sold 70,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00. Following the completion of the sale, the chief executive officer directly owned 9,469,071 shares in the company, valued at $167,697,247.41. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 586,079 shares of company stock worth $9,861,292 over the last ninety days. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Westerly Capital Management LLC lifted its holdings in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Granahan Investment Management LLC raised its position in shares of Arteris by 725.7% during the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after buying an additional 546,341 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Arteris in the 1st quarter worth approximately $1,621,000. Roubaix Capital LLC acquired a new stake in shares of Arteris in the 3rd quarter worth approximately $2,361,000. Finally, Algert Global LLC bought a new position in shares of Arteris in the third quarter valued at approximately $2,250,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Stock Performance

Shares of Arteris stock opened at $17.37 on Tuesday. Arteris has a 1 year low of $5.46 and a 1 year high of $19.85. The firm’s 50-day simple moving average is $15.68 and its 200-day simple moving average is $12.36. The firm has a market cap of $758.72 million, a PE ratio of -20.93 and a beta of 1.48.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to analyst estimates of $17.00 million. On average, equities analysts predict that Arteris will post -0.73 earnings per share for the current year.

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.