Zacks: Brokerages Expect Arteris, Inc. (NASDAQ:AIP) to Post -$0.12 EPS

Equities analysts expect Arteris, Inc. (NASDAQ:AIPGet Rating) to report earnings per share of ($0.12) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Arteris’ earnings. The highest EPS estimate is ($0.11) and the lowest is ($0.12). The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Arteris will report full-year earnings of ($0.51) per share for the current financial year, with EPS estimates ranging from ($0.55) to ($0.46). For the next year, analysts anticipate that the business will report earnings of ($0.29) per share, with EPS estimates ranging from ($0.36) to ($0.22). Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Arteris.

Arteris (NASDAQ:AIPGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.20. The firm had revenue of $11.43 million for the quarter, compared to the consensus estimate of $10.60 million.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Arteris from a “sell” rating to a “hold” rating in a report on Tuesday, February 1st. BMO Capital Markets cut their price target on Arteris from $20.00 to $15.00 in a research note on Wednesday, May 11th. Cowen cut their price target on Arteris from $23.00 to $19.00 in a research note on Wednesday, May 11th. Finally, Cowen cut their price target on Arteris from $23.00 to $19.00 in a research note on Wednesday, May 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.67.

Shares of NASDAQ:AIP traded down $0.26 during trading on Wednesday, reaching $9.19. 202,776 shares of the stock were exchanged, compared to its average volume of 80,568. Arteris has a 12 month low of $7.69 and a 12 month high of $27.57. The stock has a 50-day moving average price of $12.02 and a 200-day moving average price of $16.25.

In other news, Director Antonio J. Viana sold 20,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $8.46, for a total transaction of $169,200.00. Following the completion of the transaction, the director now directly owns 205,001 shares in the company, valued at $1,734,308.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Laurent R. Moll sold 9,968 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $8.09, for a total transaction of $80,641.12. Following the transaction, the chief operating officer now owns 652,854 shares of the company’s stock, valued at $5,281,588.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,872 shares of company stock valued at $273,305.

Several large investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in Arteris in the fourth quarter valued at $25,000. Citigroup Inc. acquired a new stake in Arteris in the fourth quarter valued at $29,000. Allspring Global Investments Holdings LLC acquired a new stake in Arteris in the first quarter valued at $33,000. JPMorgan Chase & Co. acquired a new stake in Arteris in the fourth quarter valued at $41,000. Finally, New York State Common Retirement Fund acquired a new stake in Arteris in the first quarter valued at $49,000. Institutional investors own 17.98% of the company’s stock.

Arteris Company Profile (Get Rating)

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and IP deployment solutions in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in System-on-Chip (Soc) designs and Network-on-Chip (NoC) interconnect IP.

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