Analysts Set Arteris, Inc. (NASDAQ:AIP) PT at $13.00

Arteris, Inc. (NASDAQ:AIP) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.00.

AIP has been the subject of several research analyst reports. Westpark Capital reiterated a “buy” rating and set a $11.00 price target on shares of Arteris in a report on Wednesday, July 31st. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price objective (down previously from $11.00) on shares of Arteris in a research note on Monday, May 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research note on Monday.

Arteris Stock Down 4.7 %

Shares of AIP opened at $6.70 on Wednesday. The firm has a 50 day simple moving average of $7.93 and a two-hundred day simple moving average of $7.40. The company has a market cap of $257.81 million, a P/E ratio of -6.50 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.24 and a quick ratio of 1.24. Arteris has a one year low of $4.20 and a one year high of $9.54.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The company had revenue of $14.58 million for the quarter, compared to analyst estimates of $13.68 million. Arteris had a negative return on equity of 229.27% and a negative net margin of 68.37%. During the same quarter last year, the company posted ($0.25) earnings per share. Research analysts forecast that Arteris will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Arteris news, CEO K Charles Janac sold 3,303 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $7.70, for a total transaction of $25,433.10. Following the sale, the chief executive officer now owns 315,341 shares of the company’s stock, valued at $2,428,125.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arteris news, CEO K Charles Janac sold 3,303 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $7.70, for a total transaction of $25,433.10. Following the sale, the chief executive officer now owns 315,341 shares of the company’s stock, valued at $2,428,125.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul L. Alpern sold 3,615 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $7.18, for a total transaction of $25,955.70. Following the sale, the vice president now directly owns 74,563 shares in the company, valued at approximately $535,362.34. The disclosure for this sale can be found here. Insiders have sold a total of 100,075 shares of company stock valued at $764,471 over the last 90 days. 33.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently made changes to their positions in AIP. Victory Capital Management Inc. bought a new position in shares of Arteris during the 4th quarter worth about $60,000. Rhumbline Advisers boosted its position in shares of Arteris by 2,182.8% during the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock worth $239,000 after purchasing an additional 30,428 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Arteris during the 2nd quarter worth about $580,000. Worth Venture Partners LLC boosted its position in shares of Arteris by 114.3% during the 4th quarter. Worth Venture Partners LLC now owns 109,921 shares of the company’s stock worth $647,000 after purchasing an additional 58,620 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Arteris by 26.9% during the 1st quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock worth $973,000 after purchasing an additional 28,165 shares in the last quarter. 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.