Arteris, Inc. (NASDAQ:AIP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $41.00.

A number of analysts have commented on AIP shares. 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 report on Friday, August 7th. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Roth Capital started coverage on Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective for the company. TD Cowen lifted their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Oppenheimer assumed coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price on the stock.

Insider Buying and Selling at Arteris

In other news, major shareholder Bayview Legacy, Llc sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00. Following the sale, the insider directly owned 8,229,071 shares of the company’s stock, valued at $170,753,223.25. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO K Janac sold 100,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 8,229,071 shares in the company, valued at $170,753,223.25. The trade was a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,347,704 shares of company stock worth $44,053,887. Corporate insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Arteris

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new position in shares of Arteris in the 2nd quarter valued at about $471,000. California State Teachers Retirement System grew its holdings in Arteris by 105,728.3% during the second quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company’s stock worth $87,829,000 after acquiring an additional 1,805,840 shares during the period. AXQ Capital LP purchased a new position in Arteris during the second quarter valued at approximately $661,000. Proficio Capital Partners LLC purchased a new position in Arteris during the second quarter valued at approximately $231,000. Finally, Susquehanna Fundamental Investments LLC raised its position in Arteris by 86.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,353 shares of the company’s stock valued at $1,329,000 after acquiring an additional 12,675 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Stock Down 0.8%

NASDAQ:AIP opened at $20.68 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris has a twelve month low of $8.42 and a twelve month high of $50.26. The company has a market cap of $1.02 billion, a PE ratio of -23.77 and a beta of 1.91. The company’s 50 day moving average is $30.22 and its two-hundred day moving average is $27.45.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $24.13 million for 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%. Analysts anticipate that Arteris will post -0.68 EPS for the current year.

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.