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

Arteris, Inc. (NASDAQ:AIP) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 188,200 shares, a drop of 16.2% from the March 31st total of 224,700 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 148,700 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Arteris in a research report on Tuesday, February 20th.

Insider Buying and Selling

In other Arteris news, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.13, for a total value of $68,962.50. Following the transaction, the vice president now owns 87,521 shares in the company, valued at approximately $536,503.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Paul L. Alpern sold 11,250 shares of Arteris stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $6.13, for a total transaction of $68,962.50. Following the completion of the sale, the vice president now owns 87,521 shares of the company’s stock, valued at $536,503.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Nicholas B. Hawkins sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $6.96, for a total value of $69,600.00. Following the completion of the transaction, the chief financial officer now owns 279,727 shares in the company, valued at approximately $1,946,899.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,264 shares of company stock worth $558,958. 36.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arteris

Institutional investors have recently modified their holdings of the company. Worth Venture Partners LLC raised its holdings in Arteris by 22.6% in the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock worth $334,000 after acquiring an additional 9,448 shares during the period. Federated Hermes Inc. grew its position in shares of Arteris by 8.3% in the third quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock valued at $846,000 after purchasing an additional 10,000 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Arteris in the fourth quarter valued at about $60,000. Ibex Investors LLC bought a new position in shares of Arteris in the third quarter worth about $99,000. Finally, Barclays PLC acquired a new position in shares of Arteris during the 3rd quarter worth about $120,000. Institutional investors own 64.36% of the company’s stock.

Arteris Trading Down 0.9 %

Arteris stock opened at $6.70 on Friday. Arteris has a one year low of $3.66 and a one year high of $8.08. The company’s fifty day moving average price is $6.97 and its two-hundred day moving average price is $6.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $257.07 million, a price-to-earnings ratio of -6.44 and a beta of 1.03.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Arteris had a negative net margin of 68.70% and a negative return on equity of 150.71%. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $11.90 million. On average, analysts forecast that Arteris will post -0.9 earnings per share for the current fiscal year.

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.