Arteris (NASDAQ:AIP) Price Target Raised to $16.00

Arteris (NASDAQ:AIP) had its price target upped by Northland Securities from $14.00 to $16.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research note on Tuesday.

Arteris Stock Down 5.8 %

NASDAQ:AIP opened at $9.28 on Wednesday. Arteris has a 1-year low of $5.76 and a 1-year high of $12.64. The company has a 50-day moving average of $10.53 and a 200 day moving average of $8.72. The firm has a market cap of $380.02 million, a PE ratio of -10.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.16.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. The business had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $15.34 million. As a group, research analysts anticipate that Arteris will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling at Arteris

In other Arteris news, Director Isabelle F. Geday sold 15,550 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total transaction of $140,416.50. Following the completion of the sale, the director now directly owns 121,213 shares of the company’s stock, valued at approximately $1,094,553.39. This represents a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wayne C. Cantwell sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $11.01, for a total transaction of $55,050.00. Following the transaction, the director now owns 233,198 shares in the company, valued at approximately $2,567,509.98. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 367,157 shares of company stock valued at $3,828,388. 33.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arteris

Hedge funds have recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Arteris during the third quarter valued at about $34,000. Quarry LP acquired a new position in shares of Arteris during the fourth quarter valued at about $46,000. R Squared Ltd acquired a new position in shares of Arteris during the fourth quarter valued at about $64,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Arteris during the fourth quarter valued at about $110,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Arteris during the fourth quarter valued at about $117,000. 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.