Arteris (NASDAQ:AIP) Sets New 1-Year High - Time to Buy?

Key Points

• New 52-week high: Arteris shares reached $27.11 (last around $26.60) and the company has a market cap of about $1.23 billion with 50/200-day moving averages of $17.73/$16.10.
• Analyst views are mixed: Two Buys, one Hold and one Sell leave a consensus "Hold" and a mean price target of $20.17, which is below the current trading level.
• Operational and ownership signals: Arteris beat quarterly estimates (EPS -$0.05 vs -$0.08; revenue $20.14M vs $18.55M) but remains unprofitable, while insiders have sold sizable positions and institutional investors own roughly 64% of the stock.

Arteris, Inc. (NASDAQ:AIP - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $27.11 and last traded at $26.60, with a volume of 937757 shares. The stock had previously closed at $26.72.

Analyst Ratings Changes

A number of research firms have weighed in on AIP. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Northland Securities set a $24.00 target price on shares of Arteris in a research note on Friday, February 13th. Wall Street Zen raised shares of Arteris from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arteris in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.17.

Arteris Trading Down 0.4%

The firm has a fifty day moving average price of $17.73 and a 200 day moving average price of $16.10. The firm has a market cap of $1.23 billion, a PE ratio of -32.44 and a beta of 1.43.

Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $20.14 million for the quarter, compared to analysts' expectations of $18.55 million. As a group, equities analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Insider Activity

In other news, COO Laurent R. Moll sold 13,448 shares of Arteris stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $20.03, for a total transaction of $269,363.44. Following the sale, the chief operating officer owned 265,530 shares of the company's stock, valued at approximately $5,318,565.90. The trade was a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $19.04, for a total transaction of $1,332,800.00. Following the sale, the insider directly owned 9,119,071 shares in the company, valued at approximately $173,627,111.84. The trade was a 0.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 731,923 shares of company stock worth $12,913,251. 29.10% of the stock is owned by company insiders.

Institutional Trading of Arteris

Several institutional investors and hedge funds have recently bought and sold shares of AIP. Westerly Capital Management LLC raised its holdings in Arteris by 109.6% in the 3rd quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company's stock valued at $14,392,000 after buying an additional 745,000 shares during the period. Nuveen LLC raised its position in Arteris by 872.3% in the fourth quarter. Nuveen LLC now owns 737,281 shares of the company's stock valued at $11,428,000 after purchasing an additional 661,454 shares during the period. Goldman Sachs Group Inc. raised its position in Arteris by 144.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,012,670 shares of the company's stock valued at $15,696,000 after purchasing an additional 598,840 shares during the period. Granahan Investment Management LLC raised its position in Arteris by 725.7% in the third quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after purchasing an additional 546,341 shares during the period. Finally, Informed Momentum Co LLC purchased a new stake in Arteris in the fourth quarter valued at approximately $5,755,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

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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