Arteris (NASDAQ:AIP) Earns Buy Rating from Rosenblatt Securities

Arteris (NASDAQ:AIP)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued on Friday, Benzinga reports. They currently have a $15.00 target price on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 82.70% from the stock’s current price.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Arteris in a research report on Tuesday, February 20th.

Arteris Trading Up 38.4 %

Shares of Arteris stock opened at $8.21 on Friday. The stock has a market capitalization of $315.02 million, a PE ratio of -7.97 and a beta of 1.04. Arteris has a 52 week low of $3.82 and a 52 week high of $8.24. The stock has a 50 day moving average price of $6.95 and a two-hundred day moving average price of $6.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 1.26.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Arteris had a negative net margin of 69.70% and a negative return on equity of 170.93%. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $11.90 million. As a group, equities analysts anticipate that Arteris will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Paul L. Alpern sold 11,250 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.25, for a total transaction of $81,562.50. Following the transaction, the vice president now directly owns 86,839 shares of the company’s stock, valued at $629,582.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arteris news, CFO Nicholas B. Hawkins sold 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $7.22, for a total value of $72,200.00. Following the transaction, the chief financial officer now owns 252,896 shares of the company’s stock, valued at $1,825,909.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Paul L. Alpern sold 11,250 shares of Arteris stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.25, for a total value of $81,562.50. Following the sale, the vice president now owns 86,839 shares in the company, valued at $629,582.75. The disclosure for this sale can be found here. Insiders have sold 80,264 shares of company stock valued at $561,883 in the last three months. 36.10% of the stock is currently owned by insiders.

Institutional Trading of Arteris

A number of large investors have recently added to or reduced their stakes in AIP. GSA Capital Partners LLP boosted its stake in Arteris by 26.9% in the first quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock valued at $973,000 after acquiring an additional 28,165 shares during the last quarter. Worth Venture Partners LLC grew its holdings in Arteris by 114.3% during the fourth quarter. Worth Venture Partners LLC now owns 109,921 shares of the company’s stock valued at $647,000 after purchasing an additional 58,620 shares during the period. Roubaix Capital LLC increased its position in Arteris by 34.5% in the fourth quarter. Roubaix Capital LLC now owns 342,664 shares of the company’s stock worth $2,018,000 after buying an additional 87,920 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Arteris in the fourth quarter valued at $60,000. Finally, Acuitas Investments LLC lifted its position in shares of Arteris by 150.3% during the 4th quarter. Acuitas Investments LLC now owns 215,991 shares of the company’s stock valued at $1,272,000 after buying an additional 129,692 shares during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) 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 Soc designs and Network-on-Chip (NoC) interconnect IP.