Arteris’ (AIP) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Arteris (NASDAQ:AIP) in a report issued on Friday, Benzinga reports. The firm currently has a $15.00 price objective on the stock.

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

Arteris Price Performance

AIP opened at $8.21 on Friday. The firm has a market capitalization of $315.02 million, a P/E ratio of -7.97 and a beta of 1.04. The stock has a fifty day moving average of $6.95 and a 200-day moving average of $6.19. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.09. Arteris has a 12-month low of $3.82 and a 12-month high of $8.24.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Arteris had a negative return on equity of 170.93% and a negative net margin of 69.70%. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $11.90 million. Equities analysts forecast that Arteris will post -0.9 EPS for the current fiscal year.

Insider Activity

In related news, CEO K Charles Janac sold 10,103 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total value of $71,024.09. Following the transaction, the chief executive officer now owns 318,644 shares in the company, valued at $2,240,067.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO K Charles Janac sold 10,103 shares of Arteris stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $7.03, for a total value of $71,024.09. Following the completion of the sale, the chief executive officer now owns 318,644 shares of the company’s stock, valued at approximately $2,240,067.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Laurent R. Moll sold 4,191 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 588,887 shares of the company’s stock, valued at $4,139,875.61. The disclosure for this sale can be found here. Insiders sold a total of 80,264 shares of company stock worth $561,883 in the last three months. 36.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AIP. Victory Capital Management Inc. acquired a new stake in Arteris in the 4th quarter worth approximately $60,000. Ibex Investors LLC bought a new position in shares of Arteris in the third quarter valued at approximately $99,000. Barclays PLC acquired a new stake in shares of Arteris in the third quarter worth $120,000. Algert Global LLC bought a new stake in shares of Arteris during the 3rd quarter worth $142,000. Finally, Worth Venture Partners LLC grew its stake in Arteris by 22.6% in the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock valued at $334,000 after buying an additional 9,448 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

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.