TD Cowen Lowers Arteris (NASDAQ:AIP) Price Target to $10.00

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.

Arteris (NASDAQ:AIP – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The company had revenue of $11.20 million during the quarter, compared to analyst estimates of $11.35 million. Arteris had a negative net margin of 54.36% and a negative return on equity of 59.19%. During the same period in the prior year, the company earned ($0.27) earnings per share. Equities research analysts anticipate that Arteris will post -0.59 earnings per share for the current fiscal year.

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.

About Arteris

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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.