Craig Hallum Begins Coverage on Arteris (NASDAQ:AIP)

Stock analysts at Craig Hallum initiated coverage on shares of Arteris (NASDAQ:AIP) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Craig Hallum’s target price would suggest a potential upside of 21.07% from the company’s current price.

AIP has been the subject of a number of other reports. Jefferies Financial Group upgraded Arteris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $50.00 in a research report on Friday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $38.00 target price on shares of Arteris in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Oppenheimer began coverage on shares of Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Roth Capital started coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.43.

Arteris Price Performance

Shares of AIP stock opened at $24.78 on Monday. Arteris has a 1 year low of $9.46 and a 1 year high of $50.26. The firm’s 50 day moving average is $26.18 and its 200-day moving average is $28.05. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -28.48 and a beta of 1.91. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Sell-side analysts forecast that Arteris will post -0.68 EPS for the current fiscal year.

Insider Transactions at Arteris

In other news, CEO K Janac sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00. Following the completion of the transaction, the chief executive officer owned 8,229,071 shares of the company’s stock, valued at $170,753,223.25. The trade was a 1.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Laurent R. Moll sold 9,219 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $20.85, for a total transaction of $192,216.15. Following the completion of the sale, the chief operating officer owned 212,478 shares of the company’s stock, valued at approximately $4,430,166.30. This represents a 4.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,177,382 shares of company stock valued at $37,652,509. Corporate insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Arteris

Several large investors have recently modified their holdings of AIP. WINTON GROUP Ltd bought a new position in shares of Arteris during the 2nd quarter valued at about $384,000. Spark Investment Management LLC acquired a new stake in Arteris during the 2nd quarter worth approximately $1,074,000. Arizona State Retirement System acquired a new stake in Arteris during the 2nd quarter worth approximately $442,000. Corient Private Wealth LP bought a new position in Arteris in the second quarter valued at approximately $471,000. Finally, AXQ Capital LP bought a new position in Arteris in the second quarter valued at approximately $661,000. 64.36% of the stock is currently owned by institutional investors.

About Arteris

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company’s product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.