Arteris, Inc. (NASDAQ:AIP) Stock Has Consensus Price Target of $37.29 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Arteris, with six buy ratings and one sell rating. The average 12-month price target is $37.29, though recent targets range from $25 to $40.
• Insiders sold 752,631 shares worth approximately $19.1 million over the last quarter, while insiders retain a 23.30% ownership stake. Institutional investors and hedge funds own 64.36% of the stock.
• Arteris shares opened at $19.06, well below the consensus target and their 52-week high of $50.26. The company recently missed quarterly EPS estimates, posting a $0.10 loss per share versus the expected $0.04 loss, despite revenue exceeding expectations.

Shares of Arteris, Inc. (NASDAQ:AIP - Get Free Report) have earned an average rating of "Moderate Buy" from the seven analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $37.29.

Several equities analysts recently weighed in on AIP shares. Craig Hallum initiated coverage on Arteris in a research report on Monday, September 21st. They set a "buy" rating and a $30.00 target price on the stock. Weiss Ratings upgraded Arteris from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Roth Capital began coverage on shares of Arteris in a report on Tuesday, August 4th. They set a "buy" rating and a $40.00 target price on the stock. TD Cowen decreased their target price on Arteris from $40.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, October 19th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th.

Insider Transactions at Arteris

In related news, major shareholder Bayview Legacy, Llc sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $23.82, for a total value of $2,382,000.00. Following the sale, the insider directly owned 8,129,071 shares in the company, valued at $193,634,471.22. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO K Janac sold 11,452 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $24.27, for a total value of $277,940.04. Following the completion of the transaction, the chief executive officer owned 154,337 shares of the company's stock, valued at $3,745,758.99. This trade represents a 6.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 752,631 shares of company stock valued at $19,147,283. 23.30% of the stock is currently owned by insiders.

Institutional Trading of Arteris

A number of institutional investors have recently added to or reduced their stakes in AIP. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Arteris during the 2nd quarter valued at approximately $53,000. Versant Capital Management Inc grew its position in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company's stock worth $56,000 after buying an additional 290 shares during the period. Sterling Capital Management LLC increased its stake in shares of Arteris by 612.5% in the 3rd quarter. Sterling Capital Management LLC now owns 1,197 shares of the company's stock valued at $28,000 after acquiring an additional 1,029 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Arteris by 106.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,730 shares of the company's stock valued at $41,000 after purchasing an additional 890 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in Arteris in the 2nd quarter valued at approximately $87,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Arteris Stock Down 0.2%

AIP opened at $19.06 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $936.80 million, a price-to-earnings ratio of -21.91 and a beta of 1.90. Arteris has a one year low of $12.06 and a one year high of $50.26. The business's fifty day moving average is $22.40 and its two-hundred day moving average is $28.94.

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

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that provides technology used to design and integrate complex systems-on-chip (SoCs). Its products help semiconductor and system developers connect, manage and verify the various processing, memory and specialized functional components incorporated into modern chips.

The company's portfolio includes network-on-chip (NoC) interconnect and semiconductor IP solutions, including its FlexNoC interconnect technology, Ncore cache-coherent interconnect IP and CodaCache products.

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