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

Arteris, Inc. (NASDAQ:AIP) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $37.29.

A number of research analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Arteris in a research note on Monday, September 21st. They issued a “buy” rating and a $30.00 price target on the stock. Oppenheimer initiated coverage on Arteris in a report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $50.00 in a report on Friday, August 7th. TD Cowen decreased their price target on shares of Arteris from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $38.00 price target on shares of Arteris in a research report on Friday, August 7th.

Insider Buying and Selling at Arteris

In other news, CEO K Janac sold 11,452 shares of Arteris stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $24.27, for a total value of $277,940.04. Following the completion of the sale, the chief executive officer directly owned 154,337 shares in the company, valued at approximately $3,745,758.99. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $23.82, for a total value of $2,382,000.00. Following the completion of the sale, the insider owned 8,129,071 shares of the company’s stock, valued at approximately $193,634,471.22. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 752,631 shares of company stock worth $19,147,283. 23.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Arteris in the 2nd quarter valued at about $160,129,000. Granahan Investment Management LLC lifted its stake 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 buying an additional 476,181 shares during the period. Algert Global LLC bought a new position in shares of Arteris during the 2nd quarter worth approximately $11,602,000. Bank of America Corp DE bought a new position in shares of Arteris during the 2nd quarter worth approximately $7,686,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 valued at $7,672,000 after acquiring an additional 156,608 shares in the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Stock Up 2.3%

NASDAQ:AIP opened at $21.43 on Friday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.63 and a beta of 1.90. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris has a twelve month low of $12.06 and a twelve month high of $50.26. The stock’s 50 day moving average price is $22.14 and its two-hundred day moving average price is $24.91.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. Equities research analysts expect 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.