Arteris (NASDAQ:AIP) Given New $16.00 Price Target at Northland Securities

Arteris (NASDAQ:AIP) had its price objective increased by Northland Securities from $14.00 to $16.00 in a research note published on Wednesday morning,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Arteris in a research note on Tuesday.

Arteris Price Performance

Shares of NASDAQ AIP opened at $9.28 on Wednesday. The stock has a market capitalization of $380.02 million, a price-to-earnings ratio of -10.67 and a beta of 1.18. Arteris has a 12 month low of $5.76 and a 12 month high of $12.64. The firm’s 50 day simple moving average is $10.53 and its 200-day simple moving average is $8.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.16.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The firm had revenue of $15.49 million for the quarter, compared to analyst estimates of $15.34 million. Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. Analysts expect that Arteris will post -0.71 EPS for the current year.

Insider Activity

In other news, CFO Nicholas B. Hawkins sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $8.56, for a total transaction of $42,800.00. Following the transaction, the chief financial officer now owns 190,414 shares in the company, valued at $1,629,943.84. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Saiyed Atiq Raza sold 12,166 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $10.07, for a total value of $122,511.62. Following the completion of the transaction, the director now owns 731,560 shares in the company, valued at $7,366,809.20. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,157 shares of company stock worth $3,828,388 in the last quarter. Corporate insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIP. Needham Investment Management LLC lifted its holdings in Arteris by 14.7% in the 3rd quarter. Needham Investment Management LLC now owns 2,735,000 shares of the company’s stock valued at $21,114,000 after purchasing an additional 350,000 shares in the last quarter. G2 Investment Partners Management LLC purchased a new position in Arteris in the 4th quarter valued at $2,799,000. Federated Hermes Inc. lifted its holdings in Arteris by 729.4% in the 4th quarter. Federated Hermes Inc. now owns 165,878 shares of the company’s stock valued at $1,690,000 after purchasing an additional 145,878 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Arteris in the 4th quarter valued at $1,272,000. Finally, EAM Investors LLC acquired a new stake in shares of Arteris in the 4th quarter worth $983,000. Hedge funds and other 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.