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

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

Other analysts have also recently issued research reports about the stock. Westpark Capital reaffirmed a buy rating and set a $11.00 target price on shares of Arteris in a research note on Wednesday, July 31st. Jefferies Financial Group reaffirmed a hold rating and set a $9.00 target price (down from $11.00) on shares of Arteris in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $13.00.

Arteris Price Performance

NASDAQ:AIP traded down $0.33 during mid-day trading on Monday, reaching $6.70. The stock had a trading volume of 220,083 shares, compared to its average volume of 190,664. The stock has a 50-day simple moving average of $7.98 and a two-hundred day simple moving average of $7.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.24 and a quick ratio of 1.24. Arteris has a 12 month low of $4.20 and a 12 month high of $9.54. The stock has a market capitalization of $257.81 million, a PE ratio of -6.53 and a beta of 1.12.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07). Arteris had a negative return on equity of 229.27% and a negative net margin of 68.37%. The business had revenue of $14.58 million for the quarter, compared to the consensus estimate of $13.68 million. During the same quarter in the prior year, the company earned ($0.25) earnings per share. On average, equities analysts anticipate that Arteris will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Arteris news, CFO Nicholas B. Hawkins sold 10,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $8.01, for a total transaction of $80,100.00. Following the transaction, the chief financial officer now directly owns 242,896 shares in the company, valued at approximately $1,945,596.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Paul L. Alpern sold 11,250 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $7.86, for a total value of $88,425.00. Following the completion of the sale, the vice president now directly owns 71,042 shares of the company’s stock, valued at approximately $558,390.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nicholas B. Hawkins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $8.01, for a total value of $80,100.00. Following the transaction, the chief financial officer now directly owns 242,896 shares in the company, valued at $1,945,596.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,075 shares of company stock worth $764,471. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently added to or reduced their stakes in AIP. Silvercrest Asset Management Group LLC raised its position in shares of Arteris by 25.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company’s stock worth $5,211,000 after purchasing an additional 143,385 shares during the period. Acuitas Investments LLC raised its holdings in Arteris by 150.3% during the fourth quarter. Acuitas Investments LLC now owns 215,991 shares of the company’s stock worth $1,272,000 after buying an additional 129,692 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Arteris by 28.1% during the first quarter. Acadian Asset Management LLC now owns 534,472 shares of the company’s stock worth $3,911,000 after buying an additional 117,312 shares during the last quarter. Roubaix Capital LLC lifted its stake in shares of Arteris by 34.5% in the fourth quarter. Roubaix Capital LLC now owns 342,664 shares of the company’s stock valued at $2,018,000 after buying an additional 87,920 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Arteris during the second quarter valued at about $580,000. 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.