Analyst Joshua Buchalter from TD Cowen maintained a Buy rating on Arteris (AIP – Research Report) and increased the price target to $10.00 from $8.00.
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Joshua Buchalter has given his Buy rating due to a combination of factors that highlight Arteris’s potential for growth despite current market challenges. The company’s ability to maintain strong design win momentum, particularly in the automotive sector, suggests resilience against broader economic uncertainties. Additionally, Arteris’s record achievements in annual contract value and royalties indicate a robust demand for its network-on-chip IP solutions.
Furthermore, the successful licensing agreement with a major Japanese automotive OEM for an autonomous driving system-on-chip underscores Arteris’s strategic positioning in the market. The company’s commitment to innovation, as evidenced by the positive reception of its FlexGen platform, further supports its growth trajectory. With durable licensing revenues and the potential for increased royalties as products reach the market, Arteris is well-positioned to achieve its financial goals, justifying the Buy rating.