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

Arteris (NASDAQ:AIP)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $15.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 109.50% from the company’s previous close.

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

Arteris Stock Performance

Shares of AIP opened at $7.16 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.14. Arteris has a one year low of $4.20 and a one year high of $9.54. The company has a 50-day simple moving average of $7.33 and a two-hundred day simple moving average of $7.64. The firm has a market capitalization of $281.10 million, a PE ratio of -7.23 and a beta of 1.13.

Insiders Place Their Bets

In other news, VP Paul L. Alpern sold 3,615 shares of Arteris 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 completion of the transaction, the vice president now directly owns 68,084 shares in the company, valued at approximately $485,438.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Wayne C. Cantwell sold 15,000 shares of Arteris stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.95, for a total transaction of $104,250.00. Following the completion of the transaction, the director now directly owns 243,198 shares in the company, valued at approximately $1,690,226.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul L. Alpern sold 3,615 shares of Arteris 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 owns 68,084 shares of the company’s stock, valued at $485,438.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,110 shares of company stock worth $902,044 over the last three months. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Arteris

A number of hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new stake in Arteris in the 3rd quarter worth approximately $2,504,000. Silvercrest Asset Management Group LLC grew its position 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 during the period. Acadian Asset Management LLC grew its position 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 during the period. Bank of New York Mellon Corp bought a new stake in Arteris in the 2nd quarter worth approximately $580,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Arteris in the 2nd quarter worth approximately $554,000. 64.36% of the stock is currently owned by hedge funds and other 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.