Arteris (NASDAQ:AIP) Research Coverage Started at Oppenheimer

Oppenheimer initiated coverage on shares of Arteris (NASDAQ:AIP) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $40.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Jefferies Financial Group increased their target price on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded Arteris from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Rosenblatt Securities lifted their price target on Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.20.

Arteris Trading Up 0.0%

Shares of Arteris stock opened at $31.04 on Thursday. Arteris has a 1 year low of $8.42 and a 1 year high of $50.26. The firm has a market cap of $1.43 billion, a PE ratio of -39.29 and a beta of 1.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50 day simple moving average of $37.32 and a two-hundred day simple moving average of $24.70.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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. Analysts expect that Arteris will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Arteris

In other news, CFO Nicholas B. Hawkins sold 221,035 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $33.40, for a total value of $7,382,569.00. Following the completion of the sale, the chief financial officer directly owned 110,600 shares in the company, valued at approximately $3,694,040. The trade was a 66.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 192,686 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the completion of the sale, the insider directly owned 8,555,047 shares of the company’s stock, valued at $310,719,307.04. This trade represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,482,009 shares of company stock valued at $51,482,075. 29.10% of the stock is owned by insiders.

Institutional Trading of Arteris

Hedge funds have recently added to or reduced their stakes in the business. 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 position in Arteris in the 4th quarter worth approximately $1,914,000. Needham Investment Management LLC increased its stake 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 purchasing an additional 86,500 shares during the period. Wesbanco Bank Inc. purchased a new position in Arteris in the 1st quarter worth approximately $559,000. Finally, Granahan Investment Management LLC lifted its position in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after purchasing an additional 476,181 shares during the last quarter. 64.36% of the stock is owned by institutional investors.

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.