Arteris’ (AIP) “Buy” Rating Reiterated at Rosenblatt Securities

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

Arteris Trading Down 1.4 %

AIP stock opened at $9.85 on Tuesday. Arteris has a 1-year low of $5.76 and a 1-year high of $12.64. 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 business’s 50 day moving average is $10.55 and its 200-day moving average is $8.71. The firm has a market cap of $395.77 million, a P/E ratio of -11.32 and a beta of 1.18.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Arteris had a negative net margin of 58.27% and a negative return on equity of 578.17%. The company had revenue of $15.49 million for the quarter, compared to the consensus estimate of $15.34 million. Equities analysts anticipate that Arteris will post -0.71 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Paul L. Alpern sold 3,326 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $12.35, for a total transaction of $41,076.10. Following the transaction, the vice president now owns 61,604 shares in the company, valued at $760,809.40. This represents a 5.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne C. Cantwell sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $11.01, for a total transaction of $55,050.00. Following the completion of the sale, the director now owns 233,198 shares of the company’s stock, valued at $2,567,509.98. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 367,157 shares of company stock worth $3,828,388. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AIP. US Bancorp DE acquired a new position in shares of Arteris during the third quarter valued at $34,000. Quarry LP acquired a new position in Arteris in the fourth quarter valued at approximately $46,000. R Squared Ltd acquired a new stake in Arteris during the 4th quarter worth $64,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Arteris during the 4th quarter valued at $110,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Arteris in the 4th quarter valued at $117,000. 64.36% of the stock is currently owned by institutional investors.

About Arteris

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.