Arteris’ (AIP) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Arteris (NASDAQ:AIP) in a research note released on Monday,Benzinga reports. Rosenblatt Securities currently has a $20.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Cowen restated a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Wall Street Zen upgraded Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. TD Cowen upped their price objective on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised Arteris to a “hold” rating in a research report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arteris has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Arteris Price Performance

Shares of AIP opened at $15.15 on Monday. The stock has a market capitalization of $661.75 million, a price-to-earnings ratio of -18.25 and a beta of 1.49. Arteris has a 1 year low of $5.46 and a 1 year high of $19.85. The business’s 50 day simple moving average is $14.53 and its 200-day simple moving average is $11.23.

Arteris (NASDAQ:AIP) last posted its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to analyst estimates of $17.00 million. Arteris had a negative net margin of 52.25% and a negative return on equity of 8,546.17%. On average, sell-side analysts expect that Arteris will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In other Arteris news, CEO K Charles Janac sold 70,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00. Following the sale, the chief executive officer owned 9,469,071 shares in the company, valued at $167,697,247.41. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 70,000 shares of Arteris stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00. Following the sale, the insider owned 9,469,071 shares of the company’s stock, valued at approximately $167,697,247.41. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 820,825 shares of company stock valued at $12,276,775. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Arteris

Several hedge funds have recently modified their holdings of AIP. Needham Investment Management LLC boosted its holdings in shares of Arteris by 2.5% in the 1st quarter. Needham Investment Management LLC now owns 2,812,500 shares of the company’s stock valued at $19,434,000 after buying an additional 67,500 shares in the last quarter. Franklin Resources Inc. boosted its stake in Arteris by 0.3% in the third quarter. Franklin Resources Inc. now owns 1,641,385 shares of the company’s stock valued at $16,578,000 after acquiring an additional 4,214 shares in the last quarter. Vanguard Group Inc. grew its holdings in Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock worth $16,103,000 after purchasing an additional 120,947 shares during the last quarter. Westerly Capital Management LLC grew its holdings in Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock worth $14,392,000 after purchasing an additional 745,000 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Arteris by 9.6% during the second quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock worth $9,403,000 after purchasing an additional 86,288 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

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.