Arteris’ (AIP) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Arteris (NASDAQ:AIP) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $15.00 price target on the stock.

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

Arteris Stock Performance

Shares of AIP stock opened at $8.50 on Wednesday. The company has a market capitalization of $333.71 million, a price-to-earnings ratio of -8.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14. Arteris has a 52 week low of $4.20 and a 52 week high of $9.54. The company has a 50-day simple moving average of $7.33 and a 200 day simple moving average of $7.64.

Insider Buying and Selling

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

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently made changes to their positions in AIP. US Bancorp DE bought a new position in Arteris in the third quarter valued at approximately $34,000. Essex Investment Management Co. LLC acquired a new stake in shares of Arteris in the 3rd quarter valued at $2,504,000. Algert Global LLC bought a new position in shares of Arteris in the 2nd quarter valued at $115,000. The Manufacturers Life Insurance Company acquired a new position in shares of Arteris during the 2nd quarter worth $86,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Arteris during the 2nd quarter worth $554,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

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.