Brokerages Set Arteris, Inc. (NASDAQ:AIP) Price Target at $38.20

Shares of Arteris, Inc. (NASDAQ:AIP) have been assigned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.20.

A number of equities analysts recently issued reports on AIP shares. 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 objective on Arteris in a research note on Wednesday, May 13th. 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. Jefferies Financial Group upped their target price on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer started coverage on shares of Arteris in a research report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company.

Arteris Price Performance

AIP opened at $30.68 on Thursday. The firm has a market capitalization of $1.42 billion, a PE ratio of -38.84 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 business’s 50-day moving average is $37.27 and its two-hundred day moving average is $24.87. Arteris has a 1 year low of $8.42 and a 1 year high of $50.26.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Research analysts anticipate that Arteris will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Arteris

In other news, Director Saiyed Atiq Raza sold 90,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00. Following the completion of the transaction, the director owned 210,000 shares of the company’s stock, valued at $6,029,100. The trade was a 30.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO K Charles Janac sold 192,686 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total value of $6,998,355.52. Following the completion of the sale, the chief executive officer owned 8,555,047 shares in the company, valued at $310,719,307.04. The trade was a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,464,949 shares of company stock worth $51,104,026. 23.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after acquiring an additional 290 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Arteris during the 2nd quarter worth approximately $32,000. Royal Bank of Canada lifted its position in shares of Arteris by 366.7% during the 1st quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after buying an additional 3,161 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Arteris by 352.4% in the 4th quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $147,000 after acquiring an additional 7,400 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.