Arteris (NASDAQ:AIP) Stock Price Target Lowered at TD Cowen

Arteris (NASDAQ:AIP) had its price objective decreased by TD Cowen from $40.00 to $25.00 in a research note issued to investors on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

AIP has been the subject of several other research reports. Rosenblatt Securities reissued a “buy” rating and set a $38.00 price objective on shares of Arteris in a report on Friday, August 7th. Roth Capital assumed coverage on Arteris in a research report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target on the stock. Craig Hallum assumed coverage on shares of Arteris in a research report on Monday, September 21st. They issued a “buy” rating and a $30.00 price objective on the stock. Oppenheimer assumed coverage on Arteris in a report on Thursday, July 16th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of Arteris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $50.00 in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.29.

Arteris Stock Up 1.7%

AIP opened at $19.08 on Monday. Arteris has a 12 month low of $12.06 and a 12 month high of $50.26. The company has a 50 day moving average of $23.06 and a 200 day moving average of $28.97. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $937.78 million, a PE ratio of -21.93 and a beta of 1.90.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $24.13 million during the quarter, compared to analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. On average, sell-side analysts expect that Arteris will post -0.68 EPS for the current year.

Insiders Place Their Bets

In other news, CEO K Janac sold 11,452 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $24.27, for a total transaction of $277,940.04. Following the completion of the transaction, the chief executive officer directly owned 154,337 shares of the company’s stock, valued at $3,745,758.99. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Laurent R. Moll sold 12,219 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $24.29, for a total transaction of $296,799.51. Following the sale, the chief operating officer owned 194,659 shares of the company’s stock, valued at approximately $4,728,267.11. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 752,631 shares of company stock valued at $19,147,283. 23.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

Several institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Arteris in the second quarter worth about $53,000. Versant Capital Management Inc lifted its holdings in shares of Arteris by 33.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock valued at $56,000 after acquiring an additional 290 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Arteris by 106.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,730 shares of the company’s stock worth $41,000 after purchasing an additional 890 shares during the period. Allworth Financial LP bought a new position in Arteris during the second quarter valued at $87,000. Finally, State of Wyoming purchased a new stake in Arteris in the 2nd quarter worth about $165,000. Institutional investors own 64.36% of the company’s stock.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.