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

Rosenblatt Securities reiterated their buy rating on shares of Arteris (NASDAQ:AIP) in a research report sent to investors on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $15.00 price objective on the stock.

Separately, Wedbush reaffirmed an outperform rating and set a $17.00 price target on shares of Arteris in a research note on Tuesday, February 20th.

Arteris Stock Performance

Shares of AIP stock traded up $2.28 during mid-day trading on Friday, reaching $8.21. The company’s stock had a trading volume of 1,105,074 shares, compared to its average volume of 92,112. The company’s 50 day simple moving average is $6.95 and its 200-day simple moving average is $6.18. Arteris has a 12-month low of $3.82 and a 12-month high of $8.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 1.26.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, February 20th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Arteris had a negative net margin of 69.70% and a negative return on equity of 170.93%. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $11.90 million. Research analysts predict that Arteris will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Paul L. Alpern sold 11,250 shares of Arteris stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.25, for a total transaction of $81,562.50. Following the sale, the vice president now owns 86,839 shares of the company’s stock, valued at approximately $629,582.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arteris news, VP Paul L. Alpern sold 11,250 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.25, for a total transaction of $81,562.50. Following the completion of the transaction, the vice president now directly owns 86,839 shares of the company’s stock, valued at approximately $629,582.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nicholas B. Hawkins sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $6.96, for a total transaction of $69,600.00. Following the transaction, the chief financial officer now directly owns 279,727 shares of the company’s stock, valued at $1,946,899.92. The disclosure for this sale can be found here. Insiders have sold 80,264 shares of company stock valued at $561,883 in the last quarter. Company insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Victory Capital Management Inc. acquired a new position in shares of Arteris in the 4th quarter valued at about $60,000. Ibex Investors LLC acquired a new position in Arteris during the 3rd quarter valued at about $99,000. Barclays PLC acquired a new position in Arteris during the 3rd quarter valued at about $120,000. Algert Global LLC acquired a new position in Arteris during the 3rd quarter valued at about $142,000. Finally, Worth Venture Partners LLC boosted its stake in Arteris by 22.6% during the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock valued at $334,000 after purchasing an additional 9,448 shares during the period. 64.36% of the stock is owned by institutional investors and hedge funds.

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.