Brokerages Set Arteris, Inc. (NASDAQ:AIP) Target Price at $38.20

Arteris, Inc. (NASDAQ:AIP) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.20.

A number of equities analysts have recently weighed in on AIP shares. Weiss Ratings lowered shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Oppenheimer started coverage on shares of Arteris in a research note on Thursday. They issued an “outperform” rating and a $40.00 target price for the company. Jefferies Financial Group boosted their price target on Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Finally, TD Cowen lifted their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th.

Arteris Trading Up 0.0%

NASDAQ AIP opened at $31.04 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.43 billion, a P/E ratio of -39.29 and a beta of 1.92. Arteris has a 52-week low of $8.42 and a 52-week high of $50.26. The firm has a 50-day moving average price of $37.32 and a 200 day moving average price of $24.70.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. Equities research analysts expect that Arteris will post -0.54 EPS for the current year.

Insider Transactions at Arteris

In other Arteris news, CFO Nicholas B. Hawkins sold 5,377 shares of Arteris stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $38.78, for a total value of $208,520.06. Following the completion of the sale, the chief financial officer owned 103,172 shares in the company, valued at $4,001,010.16. The trade was a 4.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Laurent R. Moll sold 5,599 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total transaction of $217,129.22. Following the transaction, the chief operating officer directly owned 221,697 shares of the company’s stock, valued at approximately $8,597,409.66. This represents a 2.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,482,009 shares of company stock worth $51,482,075 in the last quarter. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arteris

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of Arteris during the 2nd quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in Arteris by 33.7% in the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after acquiring an additional 290 shares during the last quarter. BNP Paribas Financial Markets grew its position in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after acquiring an additional 2,595 shares during the period. Royal Bank of Canada grew its position in Arteris by 366.7% during the first quarter. Royal Bank of Canada now owns 4,023 shares of the company’s stock valued at $66,000 after acquiring an additional 3,161 shares during the period. Finally, Strs Ohio acquired a new stake in Arteris during the first quarter worth about $104,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

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.