Arteris, Inc. (NASDAQ:AIP) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Arteris has a consensus analyst rating of "Hold" from five covering firms, with a mix of one sell, one hold, and three buy ratings. The average 12-month price target is $38.20.
• Several analysts recently turned more positive on the stock, including TD Cowen and Rosenblatt raising price targets to $40 and $38, respectively, while Oppenheimer started coverage with an Outperform rating and a $40 target.
• Arteris reported a smaller-than-expected quarterly loss of $0.03 per share and revenue of $22.94 million, both better than estimates. The stock was also down 1.8% on the day of the report, and insiders sold shares over the past few months.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) has been given a consensus rating of "Hold" by the five research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $38.20.

Several brokerages recently issued reports on AIP. TD Cowen lifted their price objective on shares of Arteris from $22.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Rosenblatt Securities raised their price target on shares of Arteris from $20.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings downgraded Arteris from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Northland Securities set a $38.00 target price on Arteris in a research report on Wednesday, May 13th. Finally, Oppenheimer started coverage on Arteris in a research note on Thursday. They set an "outperform" rating and a $40.00 price target on the stock.

Arteris Trading Down 1.8%

AIP traded down $0.60 during trading on Thursday, hitting $32.08. 54,149 shares of the stock were exchanged, compared to its average volume of 740,351. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a 50 day simple moving average of $37.31 and a 200 day simple moving average of $24.55. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -40.07 and a beta of 1.92. Arteris has a 1 year low of $8.42 and a 1 year high of $50.26.

Arteris (NASDAQ:AIP - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The business had revenue of $22.94 million for the quarter, compared to analysts' expectations of $21.03 million. As a group, equities analysts expect that Arteris will post -0.54 EPS for the current year.

Insider Transactions at Arteris

In other news, Director Saiyed Atiq Raza sold 90,000 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $28.71, for a total value of $2,583,900.00. Following the completion of the transaction, the director directly owned 210,000 shares in the company, valued at $6,029,100. This trade represents a 30.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bayview Legacy, Llc sold 192,686 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $36.32, for a total transaction of $6,998,355.52. Following the transaction, the insider directly owned 8,555,047 shares of the company's stock, valued at $310,719,307.04. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,554,949 shares of company stock valued at $53,098,426 over the last three months. Company insiders own 29.10% of the company's stock.

Hedge Funds Weigh In On Arteris

Several institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Arteris by 33.7% during the second quarter. Versant Capital Management Inc now owns 1,150 shares of the company's stock valued at $56,000 after buying an additional 290 shares during the period. Intech Investment Management LLC boosted its stake in shares of Arteris by 9.3% during the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company's stock worth $210,000 after acquiring an additional 1,148 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Arteris by 7.7% during the 4th quarter. Deutsche Bank AG now owns 21,159 shares of the company's stock worth $328,000 after acquiring an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock valued at $61,000 after acquiring an additional 2,595 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Arteris by 12.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company's stock valued at $242,000 after purchasing an additional 2,613 shares in the last quarter. Institutional investors and hedge funds own 64.36% of the company's stock.

About Arteris

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.

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