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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Arteris, with five buy ratings and one sell rating. The average 12-month price target is $41, substantially above the stock’s $20.68 opening price.
• Insiders have been selling shares, including 100,000-share sales by major shareholder Bayview Legacy and CEO K. Janac at $20.75 per share. Insiders sold 1.35 million shares worth approximately $44.1 million over the past 90 days.
• Arteris reported quarterly revenue of $24.13 million, exceeding estimates, but its adjusted loss of $0.10 per share missed expectations of a $0.04 loss. The company remains unprofitable, with a negative net margin of 46.70%.

Shares of Arteris, Inc. (NASDAQ:AIP - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $41.00.

A number of analysts have commented on AIP shares. Jefferies Financial Group raised Arteris from a "hold" rating to a "buy" rating and lifted their price target for the stock from $35.00 to $50.00 in a research report on Friday, August 7th. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday, May 13th. Roth Capital started coverage on Arteris in a research note on Tuesday, August 4th. They issued a "buy" rating and a $40.00 price objective for the company. TD Cowen lifted their target price on Arteris from $22.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Oppenheimer assumed coverage on Arteris in a research report on Thursday, July 16th. They issued an "outperform" rating and a $40.00 target price on the stock.

Insider Buying and Selling at Arteris

In other news, major shareholder Bayview Legacy, Llc sold 100,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00. Following the sale, the insider directly owned 8,229,071 shares of the company's stock, valued at $170,753,223.25. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO K Janac sold 100,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $20.75, for a total transaction of $2,075,000.00. Following the completion of the sale, the chief executive officer owned 8,229,071 shares in the company, valued at $170,753,223.25. The trade was a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,347,704 shares of company stock worth $44,053,887. Corporate insiders own 23.30% of the company's stock.

Hedge Funds Weigh In On Arteris

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new position in shares of Arteris in the 2nd quarter valued at about $471,000. California State Teachers Retirement System grew its holdings in Arteris by 105,728.3% during the second quarter. California State Teachers Retirement System now owns 1,807,548 shares of the company's stock worth $87,829,000 after acquiring an additional 1,805,840 shares during the period. AXQ Capital LP purchased a new position in Arteris during the second quarter valued at approximately $661,000. Proficio Capital Partners LLC purchased a new position in Arteris during the second quarter valued at approximately $231,000. Finally, Susquehanna Fundamental Investments LLC raised its position in Arteris by 86.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,353 shares of the company's stock valued at $1,329,000 after acquiring an additional 12,675 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company's stock.

Arteris Stock Down 0.8%

NASDAQ:AIP opened at $20.68 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Arteris has a twelve month low of $8.42 and a twelve month high of $50.26. The company has a market cap of $1.02 billion, a PE ratio of -23.77 and a beta of 1.91. The company's 50 day moving average is $30.22 and its two-hundred day moving average is $27.45.

Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.48 million. Arteris had a negative return on equity of 295.96% and a negative net margin of 46.70%. Analysts anticipate that Arteris will post -0.68 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source