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Jefferies Thinks Arteris’ Stock is Going to Recover

In a report released yesterday, Mark Lipacis from Jefferies reiterated a Buy rating on Arteris (AIPResearch Report), with a price target of $33.00. The company’s shares closed last Thursday at $12.89, close to its 52-week low of $11.40.

According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 30.7% and a 71.1% success rate. Lipacis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Tower Semiconductor, and NXP Semiconductors.

Currently, the analyst consensus on Arteris is a Strong Buy with an average price target of $27.75, an 117.6% upside from current levels. In a report issued on March 1, Rosenblatt Securities also maintained a Buy rating on the stock with a $35.00 price target.

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The company has a one-year high of $27.57 and a one-year low of $11.40. Currently, Arteris has an average volume of 84.4K.

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Arteris Inc is a provider of network-on-chip interconnect semiconductor intellectual property (IP) and IP deployment technology to accelerate system-on-chip 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…

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