Arteris, Inc. (NASDAQ:AIP) Given Average Rating of “Moderate Buy” by Analysts

Arteris, Inc. (NASDAQ:AIP) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.50.

A number of analysts recently commented on AIP shares. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a report on Monday, September 15th. TD Cowen raised their target price on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Arteris in a research report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a report on Wednesday, October 8th.

Arteris Price Performance

AIP opened at $15.12 on Friday. Arteris has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm has a market capitalization of $660.44 million, a P/E ratio of -18.22 and a beta of 1.49. The company’s 50-day moving average is $14.57 and its 200 day moving average is $11.26.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. The business had revenue of $17.41 million during the quarter, compared to the consensus estimate of $17.00 million. On average, equities research analysts expect that Arteris will post -0.73 earnings per share for the current year.

Insider Activity at Arteris

In related news, CEO K Charles Janac sold 70,000 shares of Arteris stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $17.71, for a total value of $1,239,700.00. Following the sale, the chief executive officer owned 9,469,071 shares of the company’s stock, valued at approximately $167,697,247.41. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $17.71, for a total value of $1,239,700.00. Following the transaction, the insider directly owned 9,469,071 shares of the company’s stock, valued at approximately $167,697,247.41. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 820,825 shares of company stock worth $12,276,775. 29.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westerly Capital Management LLC grew its stake in Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after buying an additional 745,000 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of Arteris by 725.7% during the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock worth $6,278,000 after acquiring an additional 546,341 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Arteris by 40.6% in the first quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after acquiring an additional 260,277 shares during the period. AQR Capital Management LLC purchased a new position in shares of Arteris in the first quarter valued at $1,621,000. Finally, Roubaix Capital LLC bought a new stake in shares of Arteris during the 3rd quarter valued at $2,361,000. 64.36% of the stock is currently owned by institutional investors.

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.