Arteris, Inc. (NASDAQ:AIP) Receives Consensus Rating of “Hold” from Analysts

Arteris, Inc. (NASDAQ:AIP) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $38.20.

A number of research analysts have recently issued reports on AIP shares. Rosenblatt Securities upped their price target on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group boosted their target price on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 target price on shares of Arteris in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Arteris from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, Oppenheimer started coverage on Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 price target on the stock.

Arteris Price Performance

Shares of NASDAQ AIP opened at $33.53 on Thursday. Arteris has a twelve month low of $8.42 and a twelve month high of $50.26. The firm has a market cap of $1.55 billion, a P/E ratio of -42.44 and a beta of 1.92. The company has a 50 day moving average of $37.27 and a 200 day moving average of $25.13. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $21.03 million. As a group, research analysts expect that Arteris will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bayview Legacy, Llc sold 125,976 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $35.79, for a total value of $4,508,681.04. Following the transaction, the insider directly owned 8,429,071 shares of the company’s stock, valued at approximately $301,676,451.09. This trade represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Laurent R. Moll sold 5,599 shares of Arteris stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $38.78, for a total value of $217,129.22. Following the transaction, the chief operating officer owned 221,697 shares in the company, valued at $8,597,409.66. This trade represents a 2.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,464,949 shares of company stock valued at $51,104,026 over the last ninety days. 23.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. 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 worth $56,000 after purchasing an additional 290 shares during the period. Intech Investment Management LLC increased its holdings in Arteris by 9.3% in the fourth quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after buying an additional 1,148 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Arteris by 7.7% in the 4th 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 in the last quarter. BNP Paribas Financial Markets boosted its position in Arteris by 75.0% during the third quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after purchasing an additional 2,595 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after purchasing an additional 2,613 shares during the period. 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.