Rosenblatt Securities Reiterates Buy Rating for Arteris (NASDAQ:AIP)

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

Separately, Westpark Capital reaffirmed a "buy" rating and set a $11.00 target price on shares of Arteris in a report on Wednesday, July 31st.

Arteris Stock Performance

Shares of NASDAQ AIP traded up $1.34 during midday trading on Wednesday, hitting $8.50. The company's stock had a trading volume of 329,995 shares, compared to its average volume of 162,699. The stock has a fifty day moving average price of $7.33 and a 200 day moving average price of $7.64. Arteris has a one year low of $4.20 and a one year high of $9.54. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $333.71 million, a price-to-earnings ratio of -8.17 and a beta of 1.13.

Insiders Place Their Bets

In other Arteris news, VP Paul L. Alpern sold 3,615 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $7.13, for a total value of $25,774.95. Following the completion of the transaction, the vice president now owns 68,084 shares of the company's stock, valued at $485,438.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Nicholas B. Hawkins sold 11,628 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.86, for a total transaction of $91,396.08. Following the completion of the sale, the chief financial officer now directly owns 224,659 shares in the company, valued at $1,765,819.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul L. Alpern sold 3,615 shares of the company's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $7.13, for a total transaction of $25,774.95. Following the sale, the vice president now owns 68,084 shares of the company's stock, valued at $485,438.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,110 shares of company stock valued at $902,044 in the last quarter. Corporate insiders own 33.70% of the company's stock.

Institutional Investors Weigh In On Arteris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC raised its holdings in Arteris by 25.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 711,903 shares of the company's stock worth $5,211,000 after purchasing an additional 143,385 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Arteris by 28.1% in the 1st quarter. Acadian Asset Management LLC now owns 534,472 shares of the company's stock worth $3,911,000 after purchasing an additional 117,312 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Arteris in the 2nd quarter worth $580,000. Vanguard Group Inc. raised its holdings in Arteris by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,146,224 shares of the company's stock worth $8,390,000 after purchasing an additional 3,242 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in Arteris in the 3rd quarter worth $2,504,000. 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.