Northland Securities Forecasts Strong Price Appreciation for Arteris (NASDAQ:AIP) Stock

Arteris (NASDAQ:AIP) had its price target upped by research analysts at Northland Securities from $14.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 62.60% from the stock’s current price.

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Arteris in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Arteris Stock Down 3.0 %

Arteris stock traded down $0.30 during mid-day trading on Wednesday, reaching $9.84. The stock had a trading volume of 329,838 shares, compared to its average volume of 317,335. The company has a market capitalization of $395.37 million, a price-to-earnings ratio of -10.28 and a beta of 1.18. The company has a 50-day moving average price of $10.54 and a two-hundred day moving average price of $8.67. Arteris has a one year low of $5.76 and a one year high of $12.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.16.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The firm had revenue of $15.49 million during the quarter, compared to the consensus estimate of $15.34 million. Arteris had a negative return on equity of 437.95% and a negative net margin of 65.72%. On average, analysts expect that Arteris will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Paul L. Alpern sold 2,471 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $11.41, for a total transaction of $28,194.11. Following the completion of the sale, the vice president now owns 64,930 shares of the company’s stock, valued at $740,851.30. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicholas B. Hawkins sold 5,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $8.56, for a total transaction of $42,800.00. Following the sale, the chief financial officer now directly owns 190,414 shares of the company’s stock, valued at $1,629,943.84. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,157 shares of company stock valued at $3,828,388. 33.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Arteris

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC increased its position in shares of 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 purchasing an additional 10,000 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Arteris by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock valued at $11,201,000 after purchasing an additional 12,375 shares during the last quarter. Samjo Management LLC increased its position in shares of Arteris by 0.9% during the 4th 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 last quarter. Geode Capital Management LLC increased its position in shares of Arteris by 6.6% during the 3rd 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 last quarter. Finally, State Street Corp increased its position in shares of Arteris by 18.5% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 64.36% of the company’s stock.

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.