Arteris, Inc. (NASDAQ:AIP) Receives Average Recommendation of “Hold” from Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $17.50.

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Monday, December 15th.

Insider Buying and Selling

In other Arteris news, major shareholder Bayview Legacy, Llc sold 70,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00. Following the completion of the sale, the insider directly owned 9,469,071 shares in the company, valued at $167,697,247.41. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Laurent R. Moll sold 17,937 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $17.92, for a total transaction of $321,431.04. Following the transaction, the chief operating officer directly owned 257,222 shares in the company, valued at approximately $4,609,418.24. The trade was a 6.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 589,072 shares of company stock worth $10,005,603. 29.10% of the stock is owned by insiders.

Institutional Trading of Arteris

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Arteris by 0.3% in the third quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after acquiring an additional 4,214 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after purchasing an additional 120,947 shares during the last quarter. Westerly Capital Management LLC grew its holdings in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Acadian Asset Management LLC increased its position in shares of Arteris by 9.6% during the 2nd quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock worth $9,403,000 after purchasing an additional 86,288 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Arteris by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock valued at $6,222,000 after buying an additional 30,018 shares during the period. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Price Performance

Shares of NASDAQ:AIP opened at $14.93 on Friday. The business’s 50 day moving average price is $16.31 and its 200-day moving average price is $13.07. Arteris has a 1 year low of $5.46 and a 1 year high of $19.85. The firm has a market capitalization of $652.14 million, a price-to-earnings ratio of -17.99 and a beta of 1.47.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. On average, sell-side analysts expect that Arteris will post -0.73 earnings per share for the current year.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.