Rosenblatt Reiterates Arteris (AIP) Buy Recommendation

Fintel reports that on September 13, 2023, Rosenblatt reiterated coverage of Arteris (NASDAQ:AIP) with a Buy recommendation.

Analyst Price Forecast Suggests 72.74% Upside

As of August 31, 2023, the average one-year price target for Arteris is 12.85. The forecasts range from a low of 6.06 to a high of $16.80. The average price target represents an increase of 72.74% from its latest reported closing price of 7.44.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Arteris is 65MM, an increase of 24.90%. The projected annual non-GAAP EPS is -0.39.

What is the Fund Sentiment?

There are 121 funds or institutions reporting positions in Arteris. This is a decrease of 32 owner(s) or 20.92% in the last quarter. Average portfolio weight of all funds dedicated to AIP is 0.05%, an increase of 39.52%. Total shares owned by institutions decreased in the last three months by 0.20% to 11,481K shares. The put/call ratio of AIP is 0.59, indicating a bullish outlook.

What are Other Shareholders Doing?

Franklin Resources holds 1,474K shares representing 4.09% ownership of the company. In it's prior filing, the firm reported owning 1,468K shares, representing an increase of 0.42%. The firm increased its portfolio allocation in AIP by 591.60% over the last quarter.

Summit Partners Public Asset Management holds 1,464K shares representing 4.06% ownership of the company. In it's prior filing, the firm reported owning 1,129K shares, representing an increase of 22.93%. The firm increased its portfolio allocation in AIP by 88.35% over the last quarter.

FRSGX - Franklin Small-mid Cap Growth Fund holds 1,320K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 1,173K shares, representing an increase of 11.12%. The firm decreased its portfolio allocation in AIP by 31.34% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 646K shares representing 1.79% ownership of the company. No change in the last quarter.

Granahan Investment Management holds 591K shares representing 1.64% ownership of the company. In it's prior filing, the firm reported owning 601K shares, representing a decrease of 1.73%. The firm increased its portfolio allocation in AIP by 60.28% over the last quarter.

Arteris Background Information
(This description is provided by the company.)

Arteris IP provides network-on-chip (NoC) interconnect IP and IP deployment technology to accelerate system-on-chip (SoC) semiconductor development and integration for a wide range of applications from AI to automobiles, mobile phones, IoT, cameras, SSD controllers, and servers for customers such as Bosch, Baidu, Mobileye, Samsung, Toshiba and NXP. Arteris IP products include the Ncore® cache coherent and FlexNoC® non-coherent interconnect IP, the CodaCache® standalone last level cache, and optional Resilience Package (ISO 26262 functional safety), FlexNoC AI Package, and PIANO® automated timing closure capabilities. Customer results obtained by using Arteris IP products include lower power, higher performance, more efficient design reuse and faster SoC development, leading to lower development and production costs.

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This story originally appeared on Fintel.

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