Arteris, Inc. (NASDAQ:AIP) Receives $24.67 Consensus PT from Analysts

Shares of Arteris, Inc. (NASDAQ:AIPGet Rating) have been given an average recommendation of “Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $24.67.

AIP has been the topic of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Arteris from $20.00 to $15.00 in a research note on Wednesday, May 11th. Cowen reduced their price objective on shares of Arteris from $23.00 to $19.00 in a research note on Wednesday, May 11th. Zacks Investment Research raised shares of Arteris from a “sell” rating to a “hold” rating in a research note on Tuesday, February 1st. Finally, Cowen dropped their target price on shares of Arteris from $23.00 to $19.00 in a report on Wednesday, May 11th.

Arteris stock opened at $9.43 on Thursday. The company’s 50 day simple moving average is $11.81 and its 200 day simple moving average is $16.05. Arteris has a fifty-two week low of $7.69 and a fifty-two week high of $27.57.

Arteris (NASDAQ:AIPGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.20. The firm had revenue of $11.43 million for the quarter, compared to the consensus estimate of $10.60 million. Analysts expect that Arteris will post -0.71 EPS for the current fiscal year.

In other news, COO Laurent R. Moll sold 9,968 shares of Arteris stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $8.09, for a total value of $80,641.12. Following the sale, the chief operating officer now directly owns 652,854 shares in the company, valued at $5,281,588.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antonio J. Viana sold 20,000 shares of Arteris stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $8.46, for a total transaction of $169,200.00. Following the completion of the sale, the director now owns 205,001 shares in the company, valued at $1,734,308.46. The disclosure for this sale can be found here. Insiders have sold a total of 32,872 shares of company stock worth $273,305 over the last 90 days.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Partners Public Asset Management LLC increased its holdings in Arteris by 6.6% during the first quarter. Summit Partners Public Asset Management LLC now owns 778,027 shares of the company’s stock worth $10,114,000 after buying an additional 48,428 shares during the last quarter. Eventide Asset Management LLC increased its holdings in Arteris by 7.6% during the first quarter. Eventide Asset Management LLC now owns 194,000 shares of the company’s stock worth $2,522,000 after buying an additional 13,741 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Arteris by 5.8% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 835,261 shares of the company’s stock worth $10,858,000 after buying an additional 46,135 shares during the last quarter. G2 Investment Partners Management LLC increased its holdings in Arteris by 61.2% during the first quarter. G2 Investment Partners Management LLC now owns 543,473 shares of the company’s stock worth $7,065,000 after buying an additional 206,374 shares during the last quarter. Finally, State Street Corp increased its holdings in Arteris by 65.2% during the first quarter. State Street Corp now owns 89,688 shares of the company’s stock worth $1,166,000 after buying an additional 35,409 shares during the last quarter. Institutional investors own 17.98% of the company’s stock.

Arteris Company Profile (Get Rating)

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and IP deployment solutions 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 System-on-Chip (Soc) designs and Network-on-Chip (NoC) interconnect IP.

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Analyst Recommendations for Arteris (NASDAQ:AIP)

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