Arteris, Inc. (NASDAQ:AIP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Arteris, Inc. (NASDAQ:AIP) has been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.50.

A number of research firms have recently commented on AIP. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Arteris in a research note on Monday, December 15th. TD Cowen raised their price objective on shares of Arteris from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th.

Insider Activity

In other news, major shareholder Bayview Legacy, Llc 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 transaction of $1,239,700.00. Following the completion of the transaction, the insider owned 9,469,071 shares in the company, valued at approximately $167,697,247.41. This represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO K Charles Janac sold 70,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $17.71, for a total value of $1,239,700.00. Following the completion of the sale, the chief executive officer owned 9,469,071 shares in the company, valued at $167,697,247.41. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 586,079 shares of company stock valued at $9,861,292 in the last 90 days. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in Arteris by 0.3% during the 3rd 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 during the period. Vanguard Group Inc. grew its position in shares of Arteris by 8.2% in the third quarter. Vanguard Group Inc. now owns 1,594,402 shares of the company’s stock valued at $16,103,000 after purchasing an additional 120,947 shares in the last quarter. Westerly Capital Management LLC grew its position in shares of Arteris by 109.6% in the third quarter. Westerly Capital Management LLC now owns 1,425,000 shares of the company’s stock valued at $14,392,000 after purchasing an additional 745,000 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Arteris by 9.6% during the 2nd quarter. Acadian Asset Management LLC now owns 987,011 shares of the company’s stock valued at $9,403,000 after purchasing an additional 86,288 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Arteris by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 652,754 shares of the company’s stock worth $6,222,000 after purchasing an additional 30,018 shares in the last quarter. 64.36% of the stock is owned by institutional investors.

Arteris Price Performance

AIP opened at $17.57 on Tuesday. Arteris has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm has a market capitalization of $767.46 million, a P/E ratio of -21.17 and a beta of 1.48. The company’s 50-day moving average is $15.79 and its 200 day moving average is $12.53.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $17.41 million during the quarter, compared to analysts’ expectations of $17.00 million. On average, equities research analysts expect that Arteris will post -0.73 earnings per share for the current year.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.