Arteris (NASDAQ:AIP) Stock Price Up 7.1% - Here's Why

Key Points

• Arteris shares rose 7.1% to $26.03 on Friday (intraday high $25.74) on ~482,853 shares, trading well above the 50‑day ($17.25) and 200‑day ($15.87) moving averages.
• Analysts are mixed — the consensus rating is Hold with a consensus price target of $20.17, which is below the current share price despite some Buy and Sell calls.
• Arteris beat estimates for the quarter with EPS of -$0.05 (vs. -$0.08 expected) and revenue of $20.14M (vs. $18.55M expected), but the company remains loss-making (negative PE) and analysts project about -0.68 EPS for the year.

Arteris, Inc. (NASDAQ:AIP - Get Free Report)'s share price was up 7.1% during trading on Friday . The company traded as high as $25.74 and last traded at $26.03. Approximately 482,853 shares changed hands during trading, a decline of 1% from the average daily volume of 486,412 shares. The stock had previously closed at $24.31.

Analyst Upgrades and Downgrades

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

Arteris Price Performance

The company has a 50-day moving average of $17.25 and a 200 day moving average of $15.87. The company has a market cap of $1.24 billion, a PE ratio of -32.73 and a beta of 1.43.

Arteris (NASDAQ:AIP - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Equities research analysts expect that Arteris, Inc. will post -0.68 EPS for the current year.

Insider Activity at Arteris

In related news, Director Raman Chitkara sold 5,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $20.05, for a total value of $100,250.00. Following the completion of the sale, the director directly owned 152,867 shares in the company, valued at $3,064,983.35. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $19.04, for a total transaction of $1,332,800.00. Following the transaction, the insider directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 731,923 shares of company stock worth $12,913,251 in the last ninety days. Corporate insiders own 29.10% of the company's stock.

Hedge Funds Weigh In On Arteris

Large investors have recently made changes to their positions in the company. Roubaix Capital LLC bought a new stake in Arteris in the third quarter worth about $2,361,000. Herald Investment Management Ltd boosted its holdings in Arteris by 33.3% during the 3rd quarter. Herald Investment Management Ltd now owns 400,000 shares of the company's stock valued at $4,036,000 after acquiring an additional 100,000 shares during the period. Granahan Investment Management LLC boosted its holdings in Arteris by 725.7% during the 3rd quarter. Granahan Investment Management LLC now owns 621,625 shares of the company's stock valued at $6,278,000 after acquiring an additional 546,341 shares during the period. GSA Capital Partners LLP grew its position in Arteris by 59.3% in the 3rd quarter. GSA Capital Partners LLP now owns 132,079 shares of the company's stock valued at $1,334,000 after acquiring an additional 49,153 shares during the last quarter. Finally, Apis Capital Advisors LLC purchased a new stake in Arteris in the third quarter worth $606,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

Arteris Company Profile

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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