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

Arteris, Inc. (NASDAQ:AIP) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.50.

Several analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a research note on Monday, December 15th. Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Jefferies Financial Group raised shares of Arteris to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th.

Arteris Trading Up 0.8%

NASDAQ AIP opened at $17.37 on Tuesday. The firm’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $12.24. The firm has a market capitalization of $758.72 million, a price-to-earnings ratio of -20.93 and a beta of 1.48. Arteris has a 1 year low of $5.46 and a 1 year high of $19.85.

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

Insider Activity

In other Arteris news, CEO K Charles Janac sold 70,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 9,469,071 shares of the company’s stock, valued at $167,697,247.41. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $17.71, for a total value of $1,239,700.00. Following the sale, the insider directly owned 9,469,071 shares in the company, valued at $167,697,247.41. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 581,847 shares of company stock worth $9,786,005. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Arteris during the 2nd quarter worth approximately $32,000. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares during the period. Savant Capital LLC bought a new stake in shares of Arteris in the second quarter worth $97,000. Penn Capital Management Company LLC acquired a new stake in Arteris in the third quarter valued at $109,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Arteris in the second quarter valued at $104,000. 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.