Arteris (NASDAQ:AIP) Given New $16.00 Price Target at Northland Securities

Arteris (NASDAQ:AIP) had its price objective upped by Northland Securities from $14.00 to $16.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Arteris in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arteris currently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Arteris Stock Performance

Shares of AIP stock opened at $9.99 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $10.56 and a 200 day moving average price of $8.70. The company has a market cap of $401.40 million, a P/E ratio of -10.41 and a beta of 1.18. Arteris has a 12 month low of $5.76 and a 12 month high of $12.64.

Arteris (NASDAQ:AIP) last released its quarterly earnings data 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%. The company had revenue of $15.49 million during the quarter, compared to analyst estimates of $15.34 million. Sell-side analysts predict that Arteris will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other Arteris news, CFO Nicholas B. Hawkins sold 11,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $10.33, for a total transaction of $113,630.00. Following the sale, the chief financial officer now directly owns 154,308 shares in the company, valued at approximately $1,594,001.64. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Isabelle F. Geday sold 15,550 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $9.03, for a total transaction of $140,416.50. Following the sale, the director now owns 121,213 shares in the company, valued at $1,094,553.39. This trade represents a 11.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 367,157 shares of company stock valued at $3,828,388. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC raised its holdings in shares of Arteris by 0.4% in the 4th quarter. Needham Investment Management LLC now owns 2,745,000 shares of the company’s stock worth $27,972,000 after purchasing an additional 10,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Arteris by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock worth $11,201,000 after purchasing an additional 12,375 shares in the last quarter. Samjo Management LLC raised 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 worth $11,792,000 after purchasing an additional 10,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Arteris by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock worth $4,610,000 after purchasing an additional 36,908 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Arteris by 18.5% in the 3rd quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after purchasing an additional 64,081 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors.

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.