Arteris, Inc. (NASDAQ:AIP) Stock Has Consensus Target Price of $39.43

Key Points

• Analyst sentiment is moderately bullish: Seven analysts give Arteris a consensus “Moderate Buy” rating, with six buys and one sell. The average 12-month price target is $39.43, well above the reported share price of $23.12.
• Recent results fell short on earnings: Arteris reported quarterly revenue of $24.13 million, exceeding estimates, but its $0.10 per-share loss was wider than the expected $0.04 loss. Analysts project a full-year loss of $0.68 per share.
• Ownership activity is mixed: Institutional investors own 64.36% of the stock, with BlackRock establishing a position worth about $160.1 million, while insiders sold 1.18 million shares worth $37.7 million over the past 90 days.

Shares of Arteris, Inc. (NASDAQ:AIP - Get Free Report) have received an average rating of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $39.43.

A number of analysts recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $38.00 target price on shares of Arteris in a research report on Friday, August 7th. Craig Hallum initiated coverage on Arteris in a research note on Monday, September 21st. They issued a "buy" rating and a $30.00 price objective for the company. Jefferies Financial Group raised Arteris from a "hold" rating to a "buy" rating and increased their price objective for the company from $35.00 to $50.00 in a report on Friday, August 7th. Oppenheimer started coverage on shares of Arteris in a report on Thursday, July 16th. They issued an "outperform" rating and a $40.00 target price on the stock. Finally, Roth Capital started coverage on shares of Arteris in a research note on Tuesday, August 4th. They set a "buy" rating and a $40.00 price target for the company.

Insiders Place Their Bets

In other Arteris news, CFO Nicholas B. Hawkins sold 10,431 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $28.26, for a total transaction of $294,780.06. Following the completion of the sale, the chief financial officer directly owned 95,666 shares of the company's stock, valued at approximately $2,703,521.16. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 8,229,071 shares in the company, valued at approximately $170,753,223.25. The trade was a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,177,382 shares of company stock valued at $37,652,509. 23.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arteris

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Arteris during the second quarter worth about $160,129,000. Granahan Investment Management LLC boosted its holdings in Arteris by 201.0% in the 1st quarter. Granahan Investment Management LLC now owns 713,077 shares of the company's stock valued at $11,723,000 after purchasing an additional 476,181 shares in the last quarter. Algert Global LLC acquired a new position in Arteris during the 2nd quarter worth approximately $11,602,000. Bank of America Corp DE purchased a new position in shares of Arteris during the 2nd quarter worth approximately $7,686,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Arteris by 12,206.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,891 shares of the company's stock worth $7,672,000 after buying an additional 156,608 shares in the last quarter. Hedge funds and other institutional investors own 64.36% of the company's stock.

Arteris Price Performance

Shares of NASDAQ:AIP opened at $23.12 on Tuesday. Arteris has a 12 month low of $9.67 and a 12 month high of $50.26. The firm has a market capitalization of $1.14 billion, a P/E ratio of -26.57 and a beta of 1.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company's fifty day moving average price is $25.58 and its 200 day moving average price is $28.30.

Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings data 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). Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. The company had revenue of $24.13 million during the quarter, compared to analyst estimates of $23.48 million. As a group, sell-side analysts predict that Arteris will post -0.68 earnings per share for the current fiscal year.

About Arteris

Arteris, Inc is a semiconductor intellectual property company that provides network-on-chip (NoC) interconnect and system IP for the design of complex systems-on-chip (SoCs). Its technologies help semiconductor and electronics companies connect processor cores, memory, peripherals and other functional blocks within a chip while supporting data movement, system integration and design reuse.

The company's product portfolio includes FlexNoC interconnect IP, Ncore cache-coherent interconnect IP and CodaCache system IP.

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