Arteris, Inc. (NASDAQ:AIP) Short Interest Update

Arteris, Inc. (NASDAQ:AIP) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 302,200 shares, a decline of 21.6% from the January 31st total of 385,400 shares. Based on an average daily trading volume, of 281,100 shares, the short-interest ratio is currently 1.1 days. Approximately 1.2% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms have recently issued reports on AIP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Arteris in a research report on Tuesday, February 18th. Northland Securities lifted their target price on shares of Arteris from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th.

Arteris Stock Down 1.3 %

AIP stock opened at $8.20 on Wednesday. The stock has a market capitalization of $335.77 million, a P/E ratio of -9.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.17. Arteris has a 1-year low of $5.76 and a 1-year high of $12.64. The business has a fifty day moving average price of $10.42 and a 200-day moving average price of $8.83.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.08). The business had revenue of $15.49 million during the quarter, compared to the consensus estimate of $15.34 million. Arteris had a negative return on equity of 828.71% and a negative net margin of 58.27%. Equities analysts forecast that Arteris will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO K Charles Janac sold 17,856 shares of Arteris stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $10.12, for a total transaction of $180,702.72. Following the completion of the transaction, the chief executive officer now directly owns 10,287,435 shares in the company, valued at approximately $104,108,842.20. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicholas B. Hawkins sold 5,968 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.57, for a total value of $51,145.76. Following the completion of the sale, the chief financial officer now directly owns 186,123 shares in the company, valued at approximately $1,595,074.11. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,724 shares of company stock worth $3,653,344. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Arteris

A number of hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new position in shares of Arteris in the 3rd quarter worth $34,000. Quarry LP purchased a new position in Arteris in the fourth quarter worth about $46,000. R Squared Ltd purchased a new position in Arteris in the fourth quarter worth about $64,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Arteris during the 4th quarter valued at about $110,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Arteris during the 4th quarter valued at about $117,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.