Arteris (NASDAQ:AIP) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Arteris (NASDAQ:AIP) from a Buy to a HoldHold with an average analyst target of $20.17 (two Buys, one Hold, one Sell).
• Corporate insiders sold 736,923 shares worth about $13.04 million last quarter — including CEO K. Charles Janac's 70,000‑share sale — though insiders still own 29.10% of the company.
• Arteris beat the quarter’s estimates (EPS -$0.05 vs. -$0.08; revenue $20.14M vs. $18.55M), has a $1.33B market cap and negative P/E, and the stock recently traded near its 12‑month high (~$29.50).

Arteris (NASDAQ:AIP - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arteris in a research note on Monday, April 20th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Arteris in a research note on Friday, February 13th. Finally, Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.17.

Arteris Trading Down 0.0%

Shares of NASDAQ:AIP opened at $28.95 on Friday. The company has a 50 day moving average of $18.51 and a 200 day moving average of $16.36. The stock has a market cap of $1.33 billion, a P/E ratio of -35.30 and a beta of 1.93. Arteris has a 12 month low of $6.61 and a 12 month high of $29.50.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analysts' expectations of $18.55 million. On average, equities analysts forecast that Arteris will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arteris news, CEO K Charles Janac sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $19.04, for a total value of $1,332,800.00. Following the completion of the transaction, the chief executive officer owned 9,119,071 shares of the company's stock, valued at $173,627,111.84. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Saiyed Atiq Raza sold 106,031 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $17.21, for a total transaction of $1,824,793.51. Following the completion of the transaction, the director directly owned 393,690 shares of the company's stock, valued at approximately $6,775,404.90. This represents a 21.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 736,923 shares of company stock valued at $13,038,551 in the last quarter. Corporate insiders own 29.10% of the company's stock.

Hedge Funds Weigh In On Arteris

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Arteris in the 2nd quarter worth approximately $32,000. BNP Paribas Financial Markets grew its stake in Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company's stock worth $61,000 after buying an additional 2,595 shares in the last quarter. Strs Ohio purchased a new position in Arteris in the 1st quarter worth approximately $104,000. Penn Capital Management Company LLC purchased a new position in Arteris in the 3rd quarter worth approximately $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Arteris in the 3rd quarter worth approximately $113,000. Hedge funds and other institutional investors 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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