Arteris (NASDAQ:AIP) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Arteris (NASDAQ:AIP) in a report released on Tuesday morning,Benzinga reports. They currently have a $15.00 target price on the stock.

Arteris Trading Down 1.4 %

Shares of NASDAQ AIP opened at $9.85 on Tuesday. Arteris has a twelve month low of $5.76 and a twelve month high of $12.64. The stock has a market cap of $395.77 million, a price-to-earnings ratio of -11.32 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $10.55 and its 200-day moving average is $8.71.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The business had revenue of $15.49 million during the quarter, compared to analyst estimates of $15.34 million. Arteris had a negative net margin of 58.27% and a negative return on equity of 578.17%. Equities research analysts predict that Arteris will post -0.71 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Nicholas B. Hawkins sold 5,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $8.56, for a total transaction of $42,800.00. Following the completion of the transaction, the chief financial officer now directly owns 190,414 shares in the company, valued at approximately $1,629,943.84. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Isabelle F. Geday sold 15,550 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total value of $140,416.50. Following the completion of the sale, the director now owns 121,213 shares in the company, valued at $1,094,553.39. The trade was a 11.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,157 shares of company stock worth $3,828,388. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Arteris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIP. PharVision Advisers LLC bought a new stake in Arteris during the fourth quarter worth about $173,000. Squarepoint Ops LLC bought a new position in shares of Arteris in the 4th quarter valued at about $160,000. Two Sigma Advisers LP raised its holdings in shares of Arteris by 82.9% in the 4th quarter. Two Sigma Advisers LP now owns 23,600 shares of the company’s stock valued at $240,000 after purchasing an additional 10,700 shares during the period. Two Sigma Investments LP lifted its stake in Arteris by 166.0% in the 4th quarter. Two Sigma Investments LP now owns 60,533 shares of the company’s stock valued at $617,000 after purchasing an additional 37,772 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in Arteris during the fourth quarter worth approximately $209,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.