Arteris (NASDAQ:AIP) Earns Buy Rating from Westpark Capital

Westpark Capital reaffirmed their buy rating on shares of Arteris (NASDAQ:AIP) in a research report report published on Wednesday, Marketbeat reports. The firm currently has a $11.00 price objective on the stock.

A number of other analysts have also recently commented on AIP. Jefferies Financial Group reiterated a hold rating and issued a $9.00 price target (down previously from $11.00) on shares of Arteris in a research note on Monday, May 13th. Rosenblatt Securities reiterated a buy rating and issued a $15.00 price target on shares of Arteris in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $13.00.

Arteris Stock Performance

Shares of AIP opened at $7.48 on Wednesday. Arteris has a 12 month low of $4.20 and a 12 month high of $9.54. The firm has a fifty day simple moving average of $7.98 and a 200 day simple moving average of $7.34. The stock has a market capitalization of $287.83 million, a price-to-earnings ratio of -7.26 and a beta of 1.12. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.11.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $14.58 million during the quarter, compared to analyst estimates of $13.68 million. Arteris had a negative net margin of 69.70% and a negative return on equity of 198.35%. During the same quarter in the prior year, the business earned ($0.25) EPS. Research analysts forecast that Arteris will post -0.91 EPS for the current fiscal year.

Insider Activity

In other news, CEO K Charles Janac sold 3,303 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $7.70, for a total value of $25,433.10. Following the transaction, the chief executive officer now directly owns 315,341 shares of the company’s stock, valued at $2,428,125.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Paul L. Alpern sold 3,615 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $7.18, for a total transaction of $25,955.70. Following the transaction, the vice president now directly owns 74,563 shares of the company’s stock, valued at $535,362.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO K Charles Janac sold 3,303 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $7.70, for a total transaction of $25,433.10. Following the transaction, the chief executive officer now directly owns 315,341 shares in the company, valued at $2,428,125.70. The disclosure for this sale can be found here. Insiders have sold 88,825 shares of company stock valued at $677,733 over the last ninety days. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its position in Arteris by 2,182.8% during the second quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock worth $239,000 after acquiring an additional 30,428 shares during the period. Bank of New York Mellon Corp bought a new position in Arteris during the second quarter worth about $580,000. Silvercrest Asset Management Group LLC increased its position in 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 acquiring an additional 143,385 shares during the period. Acadian Asset Management LLC increased its position 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 acquiring an additional 117,312 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Arteris by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company’s stock valued at $8,390,000 after buying an additional 3,242 shares during the period. 64.36% of the stock is 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.