Arteris (NASDAQ:AIP) Reaches New 1-Year High – Time to Buy?

Shares of Arteris, Inc. (NASDAQ:AIP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $15.97 and last traded at $15.8460, with a volume of 420911 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

AIP has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Cowen reaffirmed a “buy” rating on shares of Arteris in a research note on Wednesday, November 5th. Rosenblatt Securities upped their price objective on Arteris from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, TD Cowen increased their target price on Arteris from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Arteris Stock Performance

The business has a 50-day simple moving average of $13.59 and a 200-day simple moving average of $10.65.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.25%.The firm had revenue of $17.41 million during the quarter, compared to analysts’ expectations of $17.00 million. As a group, equities research analysts predict that Arteris, Inc. will post -0.73 EPS for the current year.

Insiders Place Their Bets

In related news, CEO K Charles Janac sold 2,058 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $15.52, for a total value of $31,940.16. Following the sale, the chief executive officer directly owned 158,455 shares of the company’s stock, valued at $2,459,221.60. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $13.07, for a total value of $653,500.00. Following the transaction, the insider owned 9,689,071 shares of the company’s stock, valued at $126,636,157.97. This trade represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 462,830 shares of company stock valued at $5,913,541. 29.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Penn Capital Management Company LLC acquired a new stake in Arteris during the 3rd quarter worth about $109,000. Worth Venture Partners LLC raised its stake in shares of Arteris by 24.2% in the third quarter. Worth Venture Partners LLC now owns 58,731 shares of the company’s stock worth $593,000 after purchasing an additional 11,446 shares during the last quarter. Westerly Capital Management LLC lifted its holdings in shares of Arteris by 109.6% during 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 period. Susquehanna Fundamental Investments LLC purchased a new stake in Arteris in the third quarter valued at approximately $113,000. Finally, Public Employees Retirement System of Ohio boosted its position in Arteris by 12.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after buying an additional 2,613 shares during the last quarter. 64.36% of the stock is currently owned by 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.