Arteris’ (AIP) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Arteris (NASDAQ:AIP) in a report published on Tuesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Arteris Price Performance

NASDAQ AIP opened at $10.14 on Tuesday. The company has a market cap of $407.43 million, a PE ratio of -10.56 and a beta of 1.18. The firm’s 50 day moving average price is $10.54 and its 200-day moving average price is $8.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. Arteris has a 52-week low of $5.76 and a 52-week high of $12.64.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Arteris had a negative net margin of 65.72% and a negative return on equity of 437.95%. Sell-side analysts forecast that Arteris will post -0.87 EPS for the current fiscal year.

Insider Transactions at Arteris

In other news, CEO K Charles Janac sold 17,856 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $10.12, for a total transaction of $180,702.72. Following the transaction, the chief executive officer now owns 10,287,435 shares in the company, valued at $104,108,842.20. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wayne C. Cantwell sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $11.01, for a total transaction of $55,050.00. Following the completion of the transaction, the director now directly owns 233,198 shares of the company’s stock, valued at approximately $2,567,509.98. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,157 shares of company stock valued at $3,828,388 in the last 90 days. Insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

Several large investors have recently made changes to their positions in AIP. Needham Investment Management LLC lifted its position in Arteris by 0.4% during the fourth 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 period. Franklin Resources Inc. raised its stake 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 buying an additional 12,375 shares during the last quarter. Samjo Management LLC lifted its holdings in shares of Arteris by 0.9% in the 4th quarter. Samjo Management LLC now owns 1,157,250 shares of the company’s stock valued at $11,792,000 after buying an additional 10,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Arteris by 6.6% in the third quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock worth $4,610,000 after buying an additional 36,908 shares during the last quarter. Finally, State Street Corp grew its holdings in Arteris by 18.5% during the third quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after acquiring an additional 64,081 shares during the period. 64.36% of the stock is owned by hedge funds and other 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.