Arteris' (AIP) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Arteris (NASDAQ:AIP - Free Report) in a report released on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $15.00 target price on the stock.

Arteris Trading Down 5.8 %

Shares of AIP stock traded down $0.57 during trading hours on Tuesday, reaching $9.28. The company's stock had a trading volume of 329,535 shares, compared to its average volume of 257,295. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. Arteris has a one year low of $5.76 and a one year high of $12.64. The stock has a market capitalization of $380.02 million, a P/E ratio of -10.67 and a beta of 1.18. The firm's fifty day simple moving average is $10.53 and its 200 day simple moving average is $8.72.

Arteris (NASDAQ:AIP - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.08). The firm had revenue of $15.49 million for the quarter, compared to the consensus estimate of $15.34 million. Arteris had a negative net margin of 58.27% and a negative return on equity of 828.71%. Equities research analysts expect that Arteris will post -0.71 EPS for the current year.

Insider Buying and Selling at Arteris

In other news, Director Isabelle F. Geday sold 15,550 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $9.03, for a total value of $140,416.50. Following the sale, the director now directly owns 121,213 shares in the company, valued at approximately $1,094,553.39. This represents a 11.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wayne C. Cantwell sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $11.01, for a total value of $55,050.00. Following the completion of the transaction, the director now directly owns 233,198 shares in the company, valued at approximately $2,567,509.98. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 367,157 shares of company stock valued at $3,828,388. Company insiders own 33.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its stake in Arteris by 29.0% in the fourth quarter. US Bancorp DE now owns 5,702 shares of the company's stock worth $58,000 after purchasing an additional 1,283 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Arteris by 6.0% in the 4th quarter. American Century Companies Inc. now owns 30,357 shares of the company's stock worth $309,000 after purchasing an additional 1,731 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of Arteris by 14.0% during the fourth quarter. EntryPoint Capital LLC now owns 19,814 shares of the company's stock worth $202,000 after acquiring an additional 2,430 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Arteris by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 78,690 shares of the company's stock worth $802,000 after acquiring an additional 3,298 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Arteris by 38.9% during the fourth quarter. Wells Fargo & Company MN now owns 13,192 shares of the company's stock worth $134,000 after acquiring an additional 3,694 shares during the last quarter. 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.