Arteris, Inc. (NASDAQ:AIP) Stock Has Consensus Target Price of $39.43

Shares of Arteris, Inc. (NASDAQ:AIP) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $39.43.

Several analysts have issued reports on the company. Jefferies Financial Group raised Arteris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $50.00 in a report on Friday, August 7th. Weiss Ratings raised Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Oppenheimer assumed coverage on Arteris in a research note on Thursday, July 16th. They set an “outperform” rating and a $40.00 price objective for the company. Roth Capital began coverage on shares of Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Craig Hallum initiated coverage on shares of Arteris in a research note on Monday, September 21st. They issued a “buy” rating and a $30.00 price objective for the company.

Arteris Price Performance

Shares of NASDAQ:AIP opened at $24.66 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.21 billion, a PE ratio of -28.34 and a beta of 1.90. The firm’s 50 day moving average price is $24.86 and its 200-day moving average price is $28.46. Arteris has a twelve month low of $10.80 and a twelve month high of $50.26.

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

Insider Activity at Arteris

In related news, CEO K Janac sold 125,976 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $35.79, for a total value of $4,508,681.04. Following the completion of the transaction, the chief executive officer owned 8,429,071 shares of the company’s stock, valued at approximately $301,676,451.09. This represents a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bayview Legacy, Llc sold 125,976 shares of the stock in a transaction 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 owned 8,429,071 shares of the company’s stock, valued at $301,676,451.09. The trade was a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 766,484 shares of company stock worth $22,665,900. 23.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arteris

Hedge funds have recently made changes to their positions in the business. Needham Investment Management LLC lifted its holdings in Arteris by 2.6% in the 4th quarter. Needham Investment Management LLC now owns 3,411,500 shares of the company’s stock worth $52,878,000 after purchasing an additional 86,500 shares in the last quarter. BlackRock Inc. purchased a new position in Arteris during the second quarter valued at $160,129,000. Granahan Investment Management LLC increased its holdings in Arteris by 201.0% in the 1st 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. Wellington Management Group LLP increased its holdings in Arteris by 0.4% in the 2nd quarter. Wellington Management Group LLP now owns 500,200 shares of the company’s stock valued at $24,305,000 after acquiring an additional 1,897 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Arteris in the 2nd quarter worth $11,602,000. 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.