Arteris, Inc. (NASDAQ:AIP) Given Average Rating of “Hold” by Brokerages

Arteris, Inc. (NASDAQ:AIP) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $38.20.

AIP has been the topic of a number of research analyst reports. TD Cowen lifted their price target on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Oppenheimer initiated coverage on Arteris in a report on Thursday. They issued an “outperform” rating and a $40.00 price objective on the stock. Rosenblatt Securities upped their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group increased their target price on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd.

Insiders Place Their Bets

In other news, major shareholder Bayview Legacy, Llc sold 125,976 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 8,429,071 shares in the company, valued at $301,676,451.09. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul L. Alpern sold 6,003 shares of Arteris stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $35.91, for a total value of $215,567.73. Following the transaction, the vice president owned 70,733 shares in the company, valued at approximately $2,540,022.03. The trade was a 7.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,554,949 shares of company stock valued at $53,098,426. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Arteris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Westerly Capital Management LLC raised its stake in Arteris by 109.6% during the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the period. Nuveen LLC increased its holdings in shares of Arteris by 872.3% during the 4th quarter. Nuveen LLC now owns 737,281 shares of the company’s stock worth $11,428,000 after buying an additional 661,454 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Arteris by 144.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company’s stock valued at $15,696,000 after buying an additional 598,840 shares during the period. Granahan Investment Management LLC lifted its holdings in Arteris by 201.0% in the first quarter. Granahan Investment Management LLC now owns 713,077 shares of the company’s stock valued at $11,723,000 after acquiring an additional 476,181 shares during the last quarter. Finally, Informed Momentum Co LLC acquired a new stake in Arteris during the fourth quarter worth $5,755,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Price Performance

Shares of NASDAQ:AIP traded down $0.60 during midday trading on Thursday, reaching $32.08. 54,149 shares of the company’s stock traded hands, compared to its average volume of 740,351. The company has a market cap of $1.48 billion, a P/E ratio of -40.07 and a beta of 1.92. The company has a fifty day simple moving average of $37.31 and a two-hundred day simple moving average of $24.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. Arteris has a 1 year low of $8.42 and a 1 year high of $50.26.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million during the quarter, compared to analyst estimates of $21.03 million. Equities analysts predict that Arteris will post -0.54 EPS for the current fiscal year.

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.