Arteris’ (AIP) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Arteris (NASDAQ:AIP) in a report issued on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $14.00 target price on the stock.

Separately, Northland Securities boosted their price objective on Arteris from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th.

Arteris Trading Down 1.0%

Shares of NASDAQ:AIP opened at $7.13 on Wednesday. Arteris has a 52-week low of $5.46 and a 52-week high of $12.64. The stock has a market capitalization of $299.30 million, a price-to-earnings ratio of -8.20 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $8.63.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. The business had revenue of $15.49 million during the quarter, compared to the consensus estimate of $15.34 million. Analysts expect that Arteris will post -0.73 EPS for the current year.

Insider Activity

In related news, CEO K Charles Janac sold 7,150 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total transaction of $50,908.00. Following the completion of the transaction, the chief executive officer now owns 318,117 shares in the company, valued at approximately $2,264,993.04. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nicholas B. Hawkins sold 5,968 shares of Arteris stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.57, for a total transaction of $51,145.76. Following the completion of the sale, the chief financial officer now owns 186,123 shares in the company, valued at approximately $1,595,074.11. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,927 shares of company stock worth $371,639 over the last ninety days. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Arteris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. G2 Investment Partners Management LLC bought a new stake in Arteris in the fourth quarter worth $2,799,000. Acadian Asset Management LLC increased its holdings in shares of Arteris by 40.6% in the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after buying an additional 260,277 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Arteris during the 1st quarter valued at about $1,621,000. Federated Hermes Inc. lifted its holdings in shares of Arteris by 97.2% in the 1st quarter. Federated Hermes Inc. now owns 327,119 shares of the company’s stock valued at $2,260,000 after acquiring an additional 161,241 shares during the last quarter. Finally, Next Century Growth Investors LLC increased its stake in Arteris by 46.4% during the first quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company’s stock worth $2,817,000 after acquiring an additional 129,143 shares during the last quarter. 64.36% of the stock is owned by institutional investors.

Arteris Company Profile

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.