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

Arteris, Inc. (NASDAQ:AIP) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $39.43.

AIP has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $38.00 target price on shares of Arteris in a report on Friday, August 7th. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $50.00 in a research note on Friday, August 7th. Roth Capital initiated coverage on shares of Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 target price for the company. Finally, Oppenheimer initiated coverage on shares of Arteris in a research note on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price for the company.

Insiders Place Their Bets

In related news, CFO Nicholas Hawkins sold 10,431 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $28.26, for a total transaction of $294,780.06. Following the transaction, the chief financial officer directly owned 95,666 shares of the company’s stock, valued at $2,703,521.16. This represents a 9.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total value of $2,075,000.00. Following the sale, the insider owned 8,229,071 shares in the company, valued at $170,753,223.25. The trade was a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 717,357 shares of company stock valued at $18,289,046 in the last 90 days. Corporate insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Arteris

A number of large investors have recently made changes to their positions in the stock. Needham Investment Management LLC lifted its position in Arteris by 2.6% during the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after acquiring an additional 86,500 shares during the period. BlackRock Inc. acquired a new position in shares of Arteris in the second quarter valued at about $160,129,000. Granahan Investment Management LLC raised its stake in shares of Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock worth $11,723,000 after purchasing an additional 476,181 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Arteris by 0.4% in the second quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock worth $24,305,000 after purchasing an additional 1,897 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Arteris during the second quarter worth about $11,602,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

More Arteris News

Here are the key news stories impacting Arteris this week:

• Neutral Sentiment: CEO K. Charles Janac sold 100,000 shares for approximately $2.38 million, reducing his position by 1.22%. The filing states the sale covered tax withholding obligations related to vested equity awards, making it a less negative signal than discretionary selling. SEC filing for CEO share sale
• Neutral Sentiment: Janac also sold 9,359 shares for about $230,606, while Vice President Paul Alpern sold 6,500 shares for approximately $154,960. Both transactions were explicitly made to satisfy tax withholding requirements tied to equity vesting. SEC filing for executive tax-related sales SEC filing for vice president tax-related sales
• Negative Sentiment: Major shareholder Bayview Legacy LLC sold 100,000 shares for approximately $2.38 million, reducing its stake by 1.22%. Unlike the executive transactions, the filing does not identify tax withholding as the reason for the sale. Large-shareholder selling can weigh on sentiment by raising concerns about near-term supply and confidence in the stock. SEC filing for Bayview Legacy share sale

Arteris Stock Down 2.8%

Arteris stock opened at $23.97 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.18 billion, a P/E ratio of -27.55 and a beta of 1.90. The business has a fifty day moving average of $24.73 and a two-hundred day moving average of $28.61. Arteris has a twelve month low of $12.06 and a twelve month high of $50.26.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) 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 analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. On average, analysts forecast that Arteris will post -0.68 earnings per share for the current fiscal year.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.