Analysts Set Arteris, Inc. (NASDAQ:AIP) Price Target at $41.00

Shares of Arteris, Inc. (NASDAQ:AIP) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $41.00.

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Arteris in a research note on Friday, August 7th. Northland Securities set a $38.00 target price on shares of Arteris in a report on Wednesday, May 13th. Roth Capital initiated coverage on Arteris in a research report on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. TD Cowen upped their price target on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $50.00 in a research report on Friday, August 7th.

Arteris Price Performance

AIP opened at $28.32 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 1.57. Arteris has a 52-week low of $8.42 and a 52-week high of $50.26. The stock has a market capitalization of $1.39 billion, a PE ratio of -32.55 and a beta of 1.96. The stock’s 50 day moving average price is $35.06 and its 200-day moving average price is $26.57.

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 the consensus estimate of ($0.04) by ($0.06). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The company had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. On average, equities research analysts predict that Arteris will post -0.58 EPS for the current year.

Insider Transactions at Arteris

In other news, CFO Nicholas B. Hawkins sold 10,431 shares of Arteris stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $28.26, for a total value of $294,780.06. Following the completion of the transaction, the chief financial officer owned 95,666 shares of the company’s stock, valued at $2,703,521.16. The trade was a 9.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Saiyed Atiq Raza sold 70,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.01, for a total transaction of $2,100,700.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,288,545 shares of company stock valued at $45,118,304. 23.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIP. Versant Capital Management Inc lifted its holdings in shares of Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after purchasing an additional 290 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Arteris during the 2nd quarter valued at about $53,000. Intech Investment Management LLC grew its stake in shares of Arteris by 9.3% in the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock worth $210,000 after acquiring an additional 1,148 shares during the period. Deutsche Bank AG raised its holdings in shares of Arteris by 7.7% during the fourth quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after purchasing an additional 1,504 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Arteris during the second quarter valued at approximately $87,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

About Arteris

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.