Arteris (NASDAQ:AIP) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Arteris (NASDAQ:AIP) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

Arteris Trading Up 3.9 %

Shares of Arteris stock opened at $10.14 on Tuesday. The firm has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $8.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. Arteris has a fifty-two week low of $5.76 and a fifty-two week high of $12.64. The company has a market cap of $407.43 million, a P/E ratio of -10.56 and a beta of 1.18.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Arteris had a negative net margin of 65.72% and a negative return on equity of 437.95%. As a group, equities analysts predict that Arteris will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Arteris

In other Arteris news, CFO Nicholas B. Hawkins sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $8.56, for a total transaction of $42,800.00. Following the completion of the sale, the chief financial officer now owns 190,414 shares of the company’s stock, valued at $1,629,943.84. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Isabelle F. Geday sold 15,550 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total value of $140,416.50. Following the completion of the transaction, the director now directly owns 121,213 shares in the company, valued at approximately $1,094,553.39. This trade represents a 11.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,157 shares of company stock worth $3,828,388 in the last three months. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arteris

Institutional investors have recently modified their holdings of the company. Needham Investment Management LLC boosted its holdings in Arteris by 0.4% during the 4th quarter. Needham Investment Management LLC now owns 2,745,000 shares of the company’s stock valued at $27,972,000 after acquiring an additional 10,000 shares during the period. Franklin Resources Inc. lifted its position in shares of Arteris by 0.8% during the third quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock worth $11,201,000 after purchasing an additional 12,375 shares in the last quarter. Samjo Management LLC boosted its stake in shares of Arteris by 0.9% in the fourth quarter. Samjo Management LLC now owns 1,157,250 shares of the company’s stock valued at $11,792,000 after purchasing an additional 10,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Arteris by 6.6% in the third quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock valued at $4,610,000 after purchasing an additional 36,908 shares during the period. Finally, State Street Corp grew its holdings in shares of Arteris by 18.5% in the third quarter. State Street Corp now owns 410,578 shares of the company’s stock valued at $3,170,000 after purchasing an additional 64,081 shares in the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

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.