Arteris, Inc. (NASDAQ:AIP) Stock Has Average Price Target of $37.29 According to Analysts

Shares of Arteris, Inc. (NASDAQ:AIP) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.29.

Several equities research analysts have commented on the company. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. TD Cowen cut their target price on Arteris from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Roth Capital initiated coverage on shares of Arteris in a research note on Tuesday, August 4th. They issued a “buy” rating and a $40.00 price target on the stock. Oppenheimer initiated coverage on shares of Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Craig Hallum began coverage on shares of Arteris in a research note on Monday, September 21st. They issued a “buy” rating and a $30.00 target price on the stock.

Insider Activity at Arteris

In other Arteris news, Director Saiyed Raza sold 70,000 shares of Arteris stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $30.01, for a total value of $2,100,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laurent R. Moll sold 12,219 shares of Arteris stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $24.29, for a total transaction of $296,799.51. Following the completion of the sale, the chief operating officer directly owned 194,659 shares of the company’s stock, valued at approximately $4,728,267.11. This trade represents a 5.91% decrease in their position. 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 752,631 shares of company stock worth $19,147,283 in the last three months. 23.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AIP. Sei Investments Co. grew its stake in Arteris by 43.1% during the first quarter. Sei Investments Co. now owns 170,272 shares of the company’s stock valued at $2,799,000 after acquiring an additional 51,279 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Arteris by 12,206.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,891 shares of the company’s stock worth $7,672,000 after purchasing an additional 156,608 shares in the last quarter. Bank of America Corp DE purchased a new stake in Arteris in the 2nd quarter worth $7,686,000. Bank of New York Mellon Corp bought a new position in shares of Arteris during the 2nd quarter valued at about $4,779,000. Finally, Walleye Trading LLC bought a new position in shares of Arteris during the 2nd quarter valued at about $1,347,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Stock Down 8.7%

AIP stock opened at $18.80 on Friday. Arteris has a fifty-two week low of $12.06 and a fifty-two week high of $50.26. The business’s 50 day moving average price is $21.95 and its two-hundred day moving average price is $24.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $924.06 million, a price-to-earnings ratio of -21.61 and a beta of 1.90.

Arteris (NASDAQ:AIP) last issued 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 return on equity of 295.96% and a negative net margin of 46.70%. The business had revenue of $24.13 million during the quarter, compared to the consensus estimate of $23.48 million. As a group, 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 provides technology used to design and integrate complex systems-on-chip (SoCs). Its products help semiconductor and system developers connect, manage and verify the various processing, memory and specialized functional components incorporated into modern chips.

The company’s portfolio includes network-on-chip (NoC) interconnect and semiconductor IP solutions, including its FlexNoC interconnect technology, Ncore cache-coherent interconnect IP and CodaCache products.