Arteris (NASDAQ:AIP) Given New $16.50 Price Target at TD Cowen

Arteris (NASDAQ:AIP) had its price target hoisted by investment analysts at TD Cowen from $15.00 to $16.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 8.20% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday. Wall Street Zen raised Arteris from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Rosenblatt Securities upped their target price on Arteris from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised Arteris to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arteris in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Arteris Stock Up 23.8%

Arteris stock traded up $2.93 during mid-day trading on Wednesday, hitting $15.25. 1,136,550 shares of the company were exchanged, compared to its average volume of 580,967. The company has a market capitalization of $650.41 million, a PE ratio of -18.71 and a beta of 1.49. The business has a fifty day moving average of $11.27 and a 200 day moving average of $9.50. Arteris has a 1-year low of $5.46 and a 1-year high of $15.69.

Arteris (NASDAQ:AIP) last announced its earnings results on Tuesday, August 5th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $16.50 million for the quarter, compared to analysts’ expectations of $16.35 million. Arteris had a negative return on equity of 8,546.17% and a negative net margin of 52.41%. Research analysts expect that Arteris will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Arteris

In related news, COO Laurent R. Moll sold 42,692 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $8.94, for a total value of $381,666.48. Following the transaction, the chief operating officer directly owned 399,379 shares of the company’s stock, valued at $3,570,448.26. This represents a 9.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul L. Alpern sold 10,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $8.88, for a total transaction of $88,800.00. Following the completion of the sale, the vice president directly owned 73,587 shares in the company, valued at approximately $653,452.56. The trade was a 11.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 466,205 shares of company stock valued at $5,650,115. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of Arteris

A number of hedge funds have recently bought and sold shares of AIP. Acadian Asset Management LLC raised its stake in Arteris by 40.6% during the 1st quarter. Acadian Asset Management LLC now owns 900,723 shares of the company’s stock worth $6,222,000 after acquiring an additional 260,277 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Arteris during the 1st quarter worth $1,621,000. Federated Hermes Inc. raised its stake in Arteris by 97.2% during the 1st quarter. Federated Hermes Inc. now owns 327,119 shares of the company’s stock worth $2,260,000 after acquiring an additional 161,241 shares in the last quarter. Franklin Resources Inc. raised its stake in Arteris by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock worth $15,602,000 after acquiring an additional 142,936 shares in the last quarter. Finally, Next Century Growth Investors LLC raised its stake in Arteris by 46.4% during the 1st quarter. Next Century Growth Investors LLC now owns 407,721 shares of the company’s stock worth $2,817,000 after acquiring an additional 129,143 shares in the last quarter. 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.