Arteris, Inc. (NASDAQ:AIP) Receives $17.50 Consensus Target Price from Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.50.

A number of analysts recently commented on AIP shares. Cowen reiterated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Jefferies Financial Group raised Arteris to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Arteris in a research report on Monday, December 15th. Finally, TD Cowen increased their price target on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th.

Arteris Stock Performance

AIP opened at $17.57 on Tuesday. The stock’s fifty day moving average is $15.74 and its 200-day moving average is $12.44. Arteris has a one year low of $5.46 and a one year high of $19.85. The company has a market capitalization of $767.46 million, a PE ratio of -21.17 and a beta of 1.48.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.00 million. On average, equities research analysts forecast that Arteris will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arteris news, COO Laurent R. Moll sold 32,775 shares of Arteris stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $15.42, for a total transaction of $505,390.50. Following the transaction, the chief operating officer directly owned 311,110 shares in the company, valued at approximately $4,797,316.20. The trade was a 9.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $17.71, for a total transaction of $1,239,700.00. Following the sale, the insider directly owned 9,469,071 shares in the company, valued at approximately $167,697,247.41. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 586,079 shares of company stock worth $9,861,292 over the last ninety days. 29.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Arteris by 0.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after purchasing an additional 4,214 shares during the period. Vanguard Group Inc. lifted its position in Arteris by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after buying an additional 120,947 shares in the last quarter. Westerly Capital Management LLC boosted its stake in shares of Arteris by 109.6% during the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after buying an additional 745,000 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Arteris by 9.6% during the 2nd quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock valued at $9,403,000 after acquiring an additional 86,288 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Arteris by 4.8% in the second quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after acquiring an additional 30,018 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

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.