Arteris (NASDAQ:AIP) Reaches New 12-Month High – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AIP shares. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Rosenblatt Securities raised their target price on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Northland Securities set a $38.00 price target on Arteris in a report on Wednesday, May 13th. Jefferies Financial Group upped their price target on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Finally, TD Cowen increased their price objective on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.75.

Arteris Trading Up 6.7%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $34.41 and its 200-day simple moving average is $22.70. The firm has a market capitalization of $2.13 billion, a PE ratio of -58.43 and a beta of 1.98.

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

Insider Buying and Selling at Arteris

In other news, CEO K Charles Janac sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $34.91, for a total value of $2,443,700.00. Following the completion of the transaction, the chief executive officer owned 8,929,071 shares in the company, valued at $311,713,868.61. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $34.91, for a total value of $2,443,700.00. Following the sale, the insider owned 8,929,071 shares in the company, valued at $311,713,868.61. This represents a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,072,340 shares of company stock worth $32,223,334. Insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Roubaix Capital LLC purchased a new position in Arteris during the 3rd quarter valued at about $2,361,000. Huntleigh Advisors Inc. purchased a new stake in Arteris during the 4th quarter valued at about $1,832,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Arteris during the fourth quarter valued at approximately $1,914,000. Granahan Investment Management LLC increased its holdings in shares of Arteris by 725.7% in the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after purchasing an additional 546,341 shares in the last quarter. Finally, Needham Investment Management LLC increased its holdings in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after buying an additional 86,500 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.