Arteris (NASDAQ:AIP) Stock Rating Reaffirmed by Rosenblatt Securities

Arteris (NASDAQ:AIP - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Friday, Benzinga reports. They presently have a $15.00 target price on the stock. Rosenblatt Securities' target price indicates a potential upside of 82.70% from the stock's current price.

Separately, Wedbush reissued an "outperform" rating and issued a $17.00 price objective on shares of Arteris in a research note on Tuesday, February 20th.

Arteris Stock Up 38.4 %

Arteris stock traded up $2.28 during mid-day trading on Friday, hitting $8.21. The company's stock had a trading volume of 1,103,765 shares, compared to its average volume of 151,353. The firm's 50 day moving average is $6.95 and its 200 day moving average is $6.18. The company has a market cap of $315.02 million, a PE ratio of -7.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.26 and a quick ratio of 1.26. Arteris has a 52-week low of $3.82 and a 52-week high of $8.24.

Arteris (NASDAQ:AIP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). Arteris had a negative return on equity of 150.71% and a negative net margin of 68.70%. The firm had revenue of $12.50 million for the quarter, compared to analysts' expectations of $11.90 million. On average, analysts anticipate that Arteris will post -0.9 earnings per share for the current year.

Insider Transactions at Arteris

In other news, COO Laurent R. Moll sold 4,191 shares of Arteris stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $29,462.73. Following the sale, the chief operating officer now owns 588,887 shares of the company's stock, valued at approximately $4,139,875.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Laurent R. Moll sold 4,191 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $29,462.73. Following the completion of the transaction, the chief operating officer now owns 588,887 shares in the company, valued at approximately $4,139,875.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicholas B. Hawkins sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.98, for a total value of $69,800.00. Following the transaction, the chief financial officer now owns 268,569 shares of the company's stock, valued at approximately $1,874,611.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,264 shares of company stock valued at $561,883. 36.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arteris

Institutional investors have recently bought and sold shares of the business. Acuitas Investments LLC raised its position in Arteris by 150.3% in the 4th quarter. Acuitas Investments LLC now owns 215,991 shares of the company's stock valued at $1,272,000 after purchasing an additional 129,692 shares during the last quarter. Acadian Asset Management LLC raised its position in Arteris by 120.1% in the 3rd quarter. Acadian Asset Management LLC now owns 368,220 shares of the company's stock valued at $2,396,000 after purchasing an additional 200,950 shares during the last quarter. Citigroup Inc. bought a new position in Arteris in the 3rd quarter valued at $363,000. Ibex Investors LLC bought a new position in Arteris in the 3rd quarter valued at $99,000. Finally, Federated Hermes Inc. raised its position in shares of Arteris by 8.3% during the third quarter. Federated Hermes Inc. now owns 130,000 shares of the company's stock worth $846,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 64.36% of the company's stock.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.