Rosenblatt Securities Reaffirms Buy Rating for Arteris (NASDAQ:AIP)

Arteris (NASDAQ:AIP)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 53.69% from the company’s previous close.

Arteris Stock Up 0.8 %

NASDAQ:AIP opened at $9.76 on Tuesday. Arteris has a 1-year low of $5.76 and a 1-year high of $12.64. The company has a market capitalization of $392.13 million, a PE ratio of -10.17 and a beta of 1.18. The firm’s 50-day moving average price is $10.54 and its 200-day moving average price is $8.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16.

Insider Buying and Selling at Arteris

In other news, CFO Nicholas B. Hawkins sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $8.56, for a total transaction of $42,800.00. Following the completion of the transaction, the chief financial officer now directly owns 190,414 shares in the company, valued at $1,629,943.84. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO K Charles Janac sold 60,584 shares of Arteris stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $10.42, for a total value of $631,285.28. Following the completion of the transaction, the chief executive officer now directly owns 10,134,541 shares of the company’s stock, valued at approximately $105,601,917.22. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 367,157 shares of company stock valued at $3,828,388. Corporate insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AIP. US Bancorp DE purchased a new position in Arteris in the 3rd quarter worth approximately $34,000. Quarry LP bought a new position in shares of Arteris during the fourth quarter valued at $46,000. R Squared Ltd bought a new position in Arteris during the 4th quarter valued at about $64,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Arteris during the fourth quarter valued at approximately $110,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Arteris during the fourth quarter valued at approximately $117,000. Institutional investors own 64.36% of the company’s stock.

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.