Arteris (NASDAQ:AIP) Stock Rating Reaffirmed by Westpark Capital

Westpark Capital reaffirmed their buy rating on shares of Arteris (NASDAQ:AIP) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. Westpark Capital currently has a $11.00 price target on the stock.

AIP has been the subject of a number of other research reports. Jefferies Financial Group reissued a hold rating and set a $9.00 target price (down previously from $11.00) on shares of Arteris in a research report on Monday, May 13th. Rosenblatt Securities reaffirmed a buy rating and issued a $15.00 price target on shares of Arteris in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $13.00.

Arteris Stock Down 1.6 %

AIP opened at $7.48 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.11. Arteris has a 1-year low of $4.20 and a 1-year high of $9.54. The company has a market capitalization of $287.83 million, a PE ratio of -7.26 and a beta of 1.12. The firm’s 50 day simple moving average is $7.98 and its two-hundred day simple moving average is $7.36.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The firm had revenue of $14.58 million for the quarter, compared to the consensus estimate of $13.68 million. Arteris had a negative net margin of 68.37% and a negative return on equity of 229.27%. During the same quarter in the previous year, the business earned ($0.25) earnings per share. As a group, equities analysts forecast that Arteris will post -0.91 EPS for the current year.

Insider Transactions at Arteris

In related news, CEO K Charles Janac sold 3,303 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $7.70, for a total value of $25,433.10. Following the transaction, the chief executive officer now owns 315,341 shares in the company, valued at $2,428,125.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO K Charles Janac sold 3,303 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $7.70, for a total transaction of $25,433.10. Following the completion of the sale, the chief executive officer now owns 315,341 shares of the company’s stock, valued at $2,428,125.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul L. Alpern sold 3,615 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $7.18, for a total transaction of $25,955.70. Following the sale, the vice president now directly owns 74,563 shares of the company’s stock, valued at approximately $535,362.34. The disclosure for this sale can be found here. Insiders have sold a total of 88,825 shares of company stock worth $677,733 in the last three months. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Arteris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new position in Arteris during the 4th quarter valued at about $60,000. Rhumbline Advisers grew its stake in Arteris by 2,182.8% during the 2nd quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock valued at $239,000 after acquiring an additional 30,428 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Arteris during the 2nd quarter valued at about $580,000. Worth Venture Partners LLC lifted its holdings in shares of Arteris by 114.3% during the 4th quarter. Worth Venture Partners LLC now owns 109,921 shares of the company’s stock valued at $647,000 after buying an additional 58,620 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of Arteris by 26.9% during the 1st quarter. GSA Capital Partners LLP now owns 132,952 shares of the company’s stock valued at $973,000 after buying an additional 28,165 shares during the last quarter. 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.