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

Arteris, Inc. (NASDAQ:AIP) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 188,200 shares, a decrease of 16.2% from the March 31st total of 224,700 shares. Based on an average daily volume of 148,700 shares, the short-interest ratio is currently 1.3 days. Approximately 0.8% of the company’s shares are short sold.

Insider Buying and Selling at Arteris

In related news, VP Paul L. Alpern sold 11,250 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.25, for a total transaction of $81,562.50. Following the sale, the vice president now owns 86,839 shares in the company, valued at $629,582.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.25, for a total value of $81,562.50. Following the completion of the transaction, the vice president now directly owns 86,839 shares in the company, valued at $629,582.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicholas B. Hawkins sold 10,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $7.22, for a total value of $72,200.00. Following the transaction, the chief financial officer now owns 252,896 shares in the company, valued at $1,825,909.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,264 shares of company stock worth $558,958. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Arteris

Several hedge funds and other institutional investors have recently made changes to their positions in AIP. Acadian Asset Management LLC raised its position in Arteris by 120.1% in the third quarter. Acadian Asset Management LLC now owns 368,220 shares of the company’s stock valued at $2,396,000 after purchasing an additional 200,950 shares during the period. Citigroup Inc. purchased a new position in Arteris in the 3rd quarter worth approximately $363,000. Ibex Investors LLC acquired a new stake in Arteris in the third quarter valued at approximately $99,000. Federated Hermes Inc. raised its stake in shares of Arteris by 8.3% during 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 period. Finally, Algert Global LLC acquired a new position in shares of Arteris during the third quarter worth $142,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Stock Performance

Shares of NASDAQ:AIP opened at $6.70 on Friday. The business has a 50-day moving average of $6.97 and a two-hundred day moving average of $6.16. The firm has a market capitalization of $257.07 million, a PE ratio of -6.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.26 and a quick ratio of 1.26. Arteris has a 12 month low of $3.66 and a 12 month high of $8.08.

Arteris (NASDAQ:AIP) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.28) earnings per share 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 business had revenue of $12.50 million for the quarter, compared to analyst estimates of $11.90 million. As a group, research analysts forecast that Arteris will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

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

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.