Rosenblatt Securities Reiterates "Buy" Rating for Arteris (NASDAQ:AIP)

Arteris (NASDAQ:AIP - Get Free Report)'s stock had its "buy" rating reaffirmed by Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $14.00 price objective on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 88.93% from the stock's previous close.

Separately, Northland Securities lifted their target price on shares of Arteris from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th.

Arteris Stock Up 0.5%

Shares of AIP stock opened at $7.41 on Wednesday. The firm has a fifty day moving average of $6.90 and a 200-day moving average of $8.64. Arteris has a 12-month low of $5.46 and a 12-month high of $12.64. The company has a market capitalization of $311.06 million, a price-to-earnings ratio of -8.46 and a beta of 1.31. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.30.

Arteris (NASDAQ:AIP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.08). The company had revenue of $15.49 million for the quarter, compared to the consensus estimate of $15.34 million. Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. As a group, equities research analysts predict that Arteris will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Nicholas B. Hawkins sold 5,968 shares of Arteris stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.57, for a total value of $51,145.76. Following the completion of the transaction, the chief financial officer now owns 186,123 shares in the company, valued at approximately $1,595,074.11. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO K Charles Janac sold 7,150 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $7.12, for a total transaction of $50,908.00. Following the completion of the sale, the chief executive officer now owns 318,117 shares of the company's stock, valued at approximately $2,264,993.04. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,927 shares of company stock valued at $371,639 in the last quarter. 29.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently bought and sold shares of AIP. US Bancorp DE grew its position in Arteris by 29.0% during the fourth quarter. US Bancorp DE now owns 5,702 shares of the company's stock valued at $58,000 after buying an additional 1,283 shares during the period. American Century Companies Inc. raised its holdings in shares of Arteris by 6.0% in the 4th quarter. American Century Companies Inc. now owns 30,357 shares of the company's stock valued at $309,000 after buying an additional 1,731 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Arteris by 14.0% in the 4th quarter. EntryPoint Capital LLC now owns 19,814 shares of the company's stock valued at $202,000 after purchasing an additional 2,430 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Arteris by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company's stock worth $802,000 after acquiring an additional 3,298 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Arteris by 38.9% during the 4th quarter. Wells Fargo & Company MN now owns 13,192 shares of the company's stock worth $134,000 after buying an additional 3,694 shares during the last quarter. Institutional investors and hedge funds 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.

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