Here’s What the Street is Saying About Arteris, Inc. (AIP)

Arteris, Inc. (NASDAQ:AIP) is one of the best small cap tech stocks to buy according to hedge funds. Arteris, Inc. (NASDAQ:AIP) received several rating updates from analysts following the release of its financial results for fiscal Q1. Northland lifted the price target on the stock to $38 from $24 on May 13, maintaining an Outperform rating on the shares after the company reported fiscal Q1 EPS ahead of consensus and guided above consensus. The firm told investors that the need for fast movement of data in AI chips is moving earnings up.

Arteris, Inc. (NASDAQ:AIP) also received a rating update from Jefferies the same day. The firm lifted the price target on the stock to $35 from $16, reiterating a Hold rating on the shares. It told investors in a research note that the company reported a “beat-and-raise” quarter as demand accelerates from AI-related activity. The firm further added that Arteris, Inc.’s (NASDAQ:AIP) royalty trends improved meaningfully, which was supported by greater exposure to data centers. However, Jefferies stated that it awaits better clarity on the company’s profitability after the step-up in spending before recommending the shares.

Arteris, Inc. (NASDAQ:AIP) provides interconnect and other intellectual property technology. The company’s products include Coherent NoC IP, Non-Coherent NoC IP, Last-level Cache IP, and IP Development Technology.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.