Rosenblatt Securities Reaffirms Buy Rating for Arteris (NASDAQ:AIP)

Arteris (NASDAQ:AIP)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. Rosenblatt Securities’ target price suggests a potential upside of 74.62% from the company’s current price.

Separately, 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.

Arteris Stock Performance

NASDAQ AIP opened at $8.59 on Wednesday. Arteris has a fifty-two week low of $4.20 and a fifty-two week high of $9.54. The stock has a 50 day simple moving average of $7.33 and a two-hundred day simple moving average of $7.65. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17.

Insider Transactions at Arteris

In other Arteris news, CFO Nicholas B. Hawkins sold 4,958 shares of Arteris stock in a transaction on Friday, October 4th. The stock was sold at an average price of $7.13, for a total transaction of $35,350.54. Following the completion of the transaction, the chief financial officer now owns 211,713 shares in the company, valued at approximately $1,509,513.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Laurent R. Moll sold 37,561 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $7.49, for a total value of $281,331.89. Following the completion of the transaction, the chief operating officer now directly owns 544,468 shares in the company, valued at $4,078,065.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nicholas B. Hawkins sold 4,958 shares of Arteris stock in a transaction on Friday, October 4th. The stock was sold at an average price of $7.13, for a total value of $35,350.54. Following the completion of the sale, the chief financial officer now directly owns 211,713 shares of the company’s stock, valued at approximately $1,509,513.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,110 shares of company stock valued at $902,044 in the last three months. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arteris

Several large investors have recently bought and sold shares of AIP. US Bancorp DE bought a new position in Arteris during the 3rd quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new stake in Arteris in the 2nd quarter worth approximately $86,000. Algert Global LLC purchased a new stake in Arteris during the second quarter valued at $115,000. Rhumbline Advisers boosted its holdings in shares of Arteris by 2,182.8% in the second quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock worth $239,000 after buying an additional 30,428 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Arteris during the 2nd quarter worth $554,000. 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.