Short Interest in Arteris, Inc. (NASDAQ:AIP) Decreases By 21.6%

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

Insider Transactions at Arteris

In other news, CFO Nicholas B. Hawkins sold 5,968 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.57, for a total transaction of $51,145.76. Following the sale, the chief financial officer now directly owns 186,123 shares of the company’s stock, valued at approximately $1,595,074.11. This represents a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO K Charles Janac sold 17,856 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $10.12, for a total value of $180,702.72. Following the completion of the transaction, the chief executive officer now owns 10,287,435 shares in the company, valued at $104,108,842.20. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 347,299 shares of company stock valued at $3,649,391. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Needham Investment Management LLC grew its holdings in shares of Arteris by 0.4% during the fourth quarter. Needham Investment Management LLC now owns 2,745,000 shares of the company’s stock worth $27,972,000 after purchasing an additional 10,000 shares during the last quarter. Franklin Resources Inc. increased its position in Arteris by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,491,415 shares of the company’s stock valued at $11,201,000 after acquiring an additional 12,375 shares during the period. Samjo Management LLC increased its position in Arteris by 0.9% in the 4th quarter. Samjo Management LLC now owns 1,157,250 shares of the company’s stock valued at $11,792,000 after acquiring an additional 10,000 shares during the period. Geode Capital Management LLC grew its stake in shares of Arteris by 6.6% in the third quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock worth $4,610,000 after purchasing an additional 36,908 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Arteris by 18.5% in the third quarter. State Street Corp now owns 410,578 shares of the company’s stock worth $3,170,000 after purchasing an additional 64,081 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Arteris Trading Up 2.6 %

AIP opened at $8.41 on Thursday. The company has a market cap of $344.37 million, a P/E ratio of -9.67 and a beta of 1.18. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $10.39 and its 200-day moving average is $8.83. Arteris has a 1-year low of $5.76 and a 1-year high of $12.64.

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

Arteris Company Profile

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.