Arteris (NASDAQ:AIP – Get Rating) had its price target cut by stock analysts at TD Cowen from $12.00 to $10.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. TD Cowen’s price target indicates a potential upside of 93.80% from the company’s previous close.
Several other analysts have also recently issued reports on AIP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of Arteris in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Arteris from $12.00 to $7.00 and set a “market perform” rating on the stock in a report on Wednesday, November 9th. Cowen dropped their target price on shares of Arteris to $12.00 in a report on Tuesday, November 15th. Finally, Northland Securities dropped their target price on shares of Arteris from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Arteris presently has an average rating of “Moderate Buy” and an average price target of $14.17.
Arteris Price Performance
Shares of AIP stock opened at $5.16 on Thursday. The company has a market capitalization of $172.45 million, a PE ratio of -6.14 and a beta of 1.10. The firm has a fifty day simple moving average of $5.42 and a 200-day simple moving average of $5.74. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01. Arteris has a twelve month low of $3.27 and a twelve month high of $16.00.
Insider Buying and Selling
In related news, CFO Nicholas B. Hawkins sold 9,257 shares of the stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $4.29, for a total value of $39,712.53. Following the sale, the chief financial officer now owns 283,006 shares of the company’s stock, valued at approximately $1,214,095.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 48.27% of the company’s stock.
Institutional Trading of Arteris
A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Arteris by 13.4% in the 4th quarter. Franklin Resources Inc. now owns 1,307,200 shares of the company’s stock worth $5,621,000 after acquiring an additional 154,185 shares during the period. BlackRock Inc. grew its position in Arteris by 12.6% in the 3rd quarter. BlackRock Inc. now owns 888,742 shares of the company’s stock valued at $5,918,000 after buying an additional 99,774 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Arteris by 6.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 773,356 shares of the company’s stock valued at $5,151,000 after buying an additional 46,347 shares in the last quarter. Vanguard Group Inc. grew its position in Arteris by 41.1% in the 3rd quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $4,564,000 after buying an additional 199,663 shares in the last quarter. Finally, Granahan Investment Management LLC grew its position in Arteris by 29.8% in the 4th quarter. Granahan Investment Management LLC now owns 422,035 shares of the company’s stock valued at $1,815,000 after buying an additional 96,869 shares in the last quarter. Institutional investors and hedge funds own 26.14% of the company’s stock.
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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