Arteris, Inc. (AIP) shares soared 5.58% during intraday trading on Wednesday, driven by a combination of positive financial results and bullish analyst actions.

The semiconductor IP provider reported first-quarter 2026 earnings that significantly exceeded analyst expectations, with revenue of $22.9 million representing a 39% year-over-year increase. The company also narrowed its adjusted loss per share and raised its full-year 2026 revenue guidance, citing growing customer engagement in AI-enabled chips and chiplet architectures.

Adding to the positive sentiment, Rosenblatt Securities raised its price target on Arteris to $38 from $20 while maintaining a Buy rating on the stock. The combination of strong financial performance and analyst optimism fueled investor buying during the trading session.