Arteris (NASDAQ:AIP) Stock Rating Upgraded by Wall Street Zen

Arteris (NASDAQ:AIP) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages also recently commented on AIP. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Northland Securities set a $24.00 price target on Arteris in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.17.

Arteris Trading Down 5.1%

Shares of AIP opened at $15.14 on Friday. The firm has a market capitalization of $688.42 million, a P/E ratio of -18.46 and a beta of 1.45. Arteris has a 12-month low of $5.46 and a 12-month high of $19.85. The firm has a fifty day moving average price of $15.65 and a 200-day moving average price of $14.25.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million during the quarter, compared to analysts’ expectations of $18.55 million. Analysts predict that Arteris will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In other Arteris news, Director Saiyed Atiq Raza sold 3,690 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $17.02, for a total transaction of $62,803.80. Following the sale, the director owned 390,000 shares of the company’s stock, valued at approximately $6,637,800. This trade represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 9,000 shares of Arteris stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $14.66, for a total value of $131,940.00. Following the completion of the transaction, the insider owned 9,229,071 shares in the company, valued at $135,298,180.86. This represents a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 596,196 shares of company stock worth $9,657,120 over the last 90 days. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Arteris

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in shares of Arteris by 9.3% in the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock worth $210,000 after purchasing an additional 1,148 shares in the last quarter. Deutsche Bank AG increased its position in Arteris by 7.7% during the 4th quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after buying an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets increased its position in Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after buying an additional 2,595 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after buying an additional 2,613 shares during the last quarter. Finally, Strs Ohio raised its stake in Arteris by 16.5% in the third quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after buying an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors 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.