Arteris (NASDAQ:AIP) Stock Price Up 5.4% – Should You Buy?

Arteris, Inc. (NASDAQ:AIP) traded up 5.4% during trading on Wednesday . The company traded as high as $32.56 and last traded at $33.0010. Approximately 256,600 shares changed hands during trading, a decline of 66% from the average session volume of 748,193 shares. The stock had previously closed at $31.32.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIP. TD Cowen upped their target price on Arteris from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Northland Securities set a $38.00 target price on shares of Arteris in a research note on Wednesday, May 13th. Rosenblatt Securities boosted their target price on shares of Arteris from $20.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their price target on shares of Arteris from $16.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.75.

Arteris Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average price is $36.62 and its 200-day moving average price is $23.79. The company has a market cap of $1.55 billion, a P/E ratio of -42.48 and a beta of 1.92.

Arteris (NASDAQ:AIP) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. As a group, research analysts forecast that Arteris, Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at Arteris

In other news, major shareholder Bayview Legacy, Llc sold 192,686 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.32, for a total value of $6,998,355.52. Following the completion of the transaction, the insider owned 8,555,047 shares in the company, valued at approximately $310,719,307.04. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nicholas B. Hawkins sold 221,035 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $33.40, for a total transaction of $7,382,569.00. Following the transaction, the chief financial officer directly owned 110,600 shares of the company’s stock, valued at $3,694,040. The trade was a 66.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,306,756 shares of company stock valued at $43,891,394 in the last ninety days. 33.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntleigh Advisors Inc. bought a new position in shares of Arteris during the 4th quarter worth approximately $1,832,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Arteris in the fourth quarter valued at $1,914,000. Granahan Investment Management LLC grew its position in Arteris by 725.7% in the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company’s stock valued at $6,278,000 after acquiring an additional 546,341 shares during the period. Needham Investment Management LLC raised its stake in Arteris by 2.6% during the fourth quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after acquiring an additional 86,500 shares in the last quarter. Finally, Apis Capital Advisors LLC bought a new position in shares of Arteris during the third quarter valued at $606,000. Institutional investors own 64.36% of the company’s stock.

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.