Arteris, Inc. (NASDAQ:AIP) Receives Consensus Rating of “Hold” from Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have been given a consensus rating of “Hold” by the five ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $17.50.

Several research firms recently issued reports on AIP. Jefferies Financial Group upgraded Arteris to a “hold” rating in a report on Tuesday, October 28th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Arteris in a research note on Monday, December 15th. TD Cowen reissued a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st.

Arteris Stock Performance

NASDAQ:AIP opened at $14.93 on Friday. Arteris has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The company has a 50 day moving average price of $16.31 and a 200 day moving average price of $13.07. The stock has a market capitalization of $652.14 million, a P/E ratio of -17.99 and a beta of 1.47.

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

Insider Buying and Selling

In other news, VP Paul L. Alpern sold 5,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $15.48, for a total value of $77,400.00. Following the sale, the vice president directly owned 57,650 shares in the company, valued at approximately $892,422. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bayview Legacy, Llc sold 17,884 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $17.84, for a total value of $319,050.56. Following the transaction, the insider directly owned 9,399,071 shares of the company’s stock, valued at $167,679,426.64. The trade was a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 589,072 shares of company stock worth $10,005,603 over the last ninety days. Insiders own 29.10% of the company’s stock.

Institutional Trading of Arteris

A number of large investors have recently made changes to their positions in AIP. Acuitas Investments LLC purchased a new stake in shares of Arteris during the 2nd quarter worth $858,000. Worth Venture Partners LLC purchased a new stake in Arteris during the 2nd quarter worth about $451,000. Franklin Resources Inc. lifted its holdings in Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after buying an additional 142,936 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Arteris during the 2nd quarter worth about $254,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Arteris by 143.8% in the 2nd quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock valued at $1,153,000 after acquiring an additional 71,340 shares during the last quarter. 64.36% of the stock is currently 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.