Arteris (NASDAQ:AIP) Sets New 52-Week High - Should You Buy?

Key Points

• Arteris stock hit a new 52-week high of $30.26 (last $29.865) trading on a market cap of about $1.38 billion, with a 50‑day moving average of $18.51 and 200‑day average of $16.40.
• Analyst coverage is mixed—two Buys, one Hold and one Sell—leaving an average rating of Hold and an average price target of $20.17, well below the current share price.
• Insiders have sold 821,923 shares worth $15.55 million in the past three months (including CEO and a director), though insiders still own 33.70% of the company.

Arteris, Inc. (NASDAQ:AIP - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $30.26 and last traded at $29.8650, with a volume of 164016 shares. The stock had previously closed at $28.85.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AIP shares. Weiss Ratings restated a "sell (d-)" rating on shares of Arteris in a research note on Monday, April 20th. Northland Securities set a $24.00 price objective on shares of Arteris in a research note on Friday, February 13th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Arteris in a research note on Friday, February 13th. Finally, Wall Street Zen cut shares of Arteris from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.17.

Arteris Stock Performance

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -36.78 and a beta of 1.93. The company's 50 day moving average is $18.51 and its 200 day moving average is $16.40.

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

Insider Transactions at Arteris

In other Arteris news, Director Raman Chitkara sold 5,000 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $25.06, for a total value of $125,300.00. Following the sale, the director owned 147,867 shares of the company's stock, valued at $3,705,547.02. The trade was a 3.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO K Charles Janac sold 70,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 9,119,071 shares in the company, valued at $173,627,111.84. This trade represents a 0.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 821,923 shares of company stock worth $15,545,051. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arteris

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Arteris in the 2nd quarter worth about $32,000. BNP Paribas Financial Markets grew its holdings in shares of 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 purchasing an additional 2,595 shares during the last quarter. Strs Ohio bought a new stake in shares of Arteris in the 1st quarter worth about $104,000. Penn Capital Management Company LLC bought a new stake in shares of Arteris in the 3rd quarter worth about $109,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Arteris in the 3rd quarter worth about $113,000. 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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