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TD Cowen Forecasts Strong Price Appreciation for Arteris (NASDAQ:AIP) Stock

Arteris logo with Computer and Technology background

Key Points

  • TD Cowen has raised its price target for Arteris (NASDAQ:AIP) from $12.00 to $15.00, signaling a potential upside of 15.38% from its current price and maintaining a "buy" rating on the stock.
  • In addition to TD Cowen, Rosenblatt Securities has also reaffirmed a "buy" rating with a price target of $14.00, indicating confidence in the stock's performance.
  • Recent insider transactions included the sale of shares by the director and CFO, suggesting shifts in ownership, with insiders owning 33.70% of the company's stock.
  • Want stock alerts on Arteris? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Arteris (NASDAQ:AIP - Free Report) had its price objective increased by TD Cowen from $12.00 to $15.00 in a report released on Wednesday morning, Marketbeat reports. They currently have a buy rating on the stock.

Separately, Rosenblatt Securities restated a "buy" rating and set a $14.00 price objective on shares of Arteris in a research report on Wednesday, May 21st.

Read Our Latest Report on AIP

Arteris Stock Up 5.4%

Shares of AIP traded up $0.50 during mid-day trading on Wednesday, hitting $9.81. 273,752 shares of the company's stock were exchanged, compared to its average volume of 533,223. The firm has a market cap of $411.85 million, a price-to-earnings ratio of -11.77 and a beta of 1.45. The stock's 50-day simple moving average is $9.12 and its 200-day simple moving average is $8.39. Arteris has a 52 week low of $5.46 and a 52 week high of $14.29.

Insiders Place Their Bets

In other news, COO Laurent R. Moll sold 34,400 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $13.57, for a total value of $466,808.00. Following the sale, the chief operating officer directly owned 442,071 shares in the company, valued at approximately $5,998,903.47. This trade represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO K Charles Janac sold 94,245 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $13.49, for a total transaction of $1,271,365.05. Following the transaction, the chief executive officer owned 189,785 shares of the company's stock, valued at $2,560,199.65. This trade represents a 33.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 456,043 shares of company stock valued at $5,484,028 over the last ninety days. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AIP. Quarry LP acquired a new stake in Arteris in the fourth quarter worth $46,000. GAMMA Investing LLC increased its position in Arteris by 11,823.3% in the 1st quarter. GAMMA Investing LLC now owns 5,127 shares of the company's stock valued at $350,000 after buying an additional 5,084 shares in the last quarter. CWM LLC raised its stake in Arteris by 4,810.1% during the 1st quarter. CWM LLC now owns 10,213 shares of the company's stock worth $71,000 after buying an additional 10,005 shares during the period. Savant Capital LLC bought a new position in Arteris in the second quarter worth approximately $97,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Arteris in the fourth quarter valued at approximately $110,000. 64.36% of the stock is owned by institutional investors.

Arteris Company Profile

(Get Free Report)

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.

See Also

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