Northland Securities Forecasts Strong Price Appreciation for Arteris (NASDAQ:AIP) Stock

Arteris (NASDAQ:AIP) had its target price upped by equities research analysts at Northland Securities from $14.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 62.60% from the stock’s current price.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Arteris in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.60.

Arteris Price Performance

Shares of AIP stock traded down $0.30 during trading hours on Wednesday, hitting $9.84. 329,838 shares of the company’s stock were exchanged, compared to its average volume of 317,335. The company has a market capitalization of $395.37 million, a PE ratio of -10.28 and a beta of 1.18. Arteris has a 12-month low of $5.76 and a 12-month high of $12.64. The business’s 50 day simple moving average is $10.54 and its 200-day simple moving average is $8.67. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30.

Arteris (NASDAQ:AIP) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.08). The business had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $15.34 million. Arteris had a negative return on equity of 437.95% and a negative net margin of 65.72%. On average, equities research analysts anticipate that Arteris will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Isabelle F. Geday sold 15,550 shares of Arteris stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $9.03, for a total value of $140,416.50. Following the sale, the director now owns 121,213 shares in the company, valued at $1,094,553.39. The trade was a 11.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Nicholas B. Hawkins sold 5,000 shares of Arteris stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $8.56, for a total transaction of $42,800.00. Following the completion of the sale, the chief financial officer now owns 190,414 shares in the company, valued at approximately $1,629,943.84. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,157 shares of company stock valued at $3,828,388 over the last three months. 33.70% of the stock is owned by company insiders.

Institutional Trading of Arteris

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Arteris by 18.5% in the third quarter. State Street Corp now owns 410,578 shares of the company’s stock valued at $3,170,000 after acquiring an additional 64,081 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Arteris by 67.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company’s stock valued at $712,000 after buying an additional 37,032 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arteris by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock valued at $4,610,000 after buying an additional 36,908 shares in the last quarter. Barclays PLC boosted its holdings in shares of Arteris by 321.1% during the 3rd quarter. Barclays PLC now owns 39,396 shares of the company’s stock valued at $304,000 after buying an additional 30,041 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Arteris during the 3rd quarter valued at $226,000. Institutional investors 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.