Arteris, Inc. (NASDAQ:AIP) Receives $17.50 Consensus PT from Brokerages

Shares of Arteris, Inc. (NASDAQ:AIP) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.50.

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Arteris in a report on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, January 21st.

Arteris Trading Up 2.1%

Shares of NASDAQ AIP opened at $15.24 on Friday. The company has a market capitalization of $665.68 million, a P/E ratio of -18.36 and a beta of 1.48. Arteris has a 12 month low of $5.46 and a 12 month high of $19.85. The stock has a 50 day moving average of $16.33 and a 200-day moving average of $13.17.

Insiders Place Their Bets

In other news, CEO K Charles Janac sold 17,884 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $17.84, for a total value of $319,050.56. Following the completion of the transaction, the chief executive officer owned 9,399,071 shares of the company’s stock, valued at approximately $167,679,426.64. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas B. Hawkins sold 5,836 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $17.27, for a total transaction of $100,787.72. Following the transaction, the chief financial officer owned 82,267 shares of the company’s stock, valued at $1,420,751.09. This trade represents a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 589,072 shares of company stock valued at $10,005,603 in the last quarter. Corporate insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Arteris

A number of hedge funds and other institutional investors have recently made changes to their positions in AIP. Raymond James Financial Inc. acquired a new position in Arteris in the second quarter valued at $32,000. BNP Paribas Financial Markets raised its position in shares of Arteris by 75.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock worth $61,000 after acquiring an additional 2,595 shares in the last quarter. Savant Capital LLC bought a new position in shares of Arteris in the 2nd quarter worth about $97,000. Strs Ohio acquired a new position in shares of Arteris in the 1st quarter valued at about $104,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Arteris during the 3rd quarter valued at about $109,000. 64.36% of the stock is owned by institutional investors and hedge funds.

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.