Arteris, Inc. (NASDAQ:AIP) Short Interest Down 16.2% in April

Arteris, Inc. (NASDAQ:AIP) was the target of a significant decrease in short interest in the month of 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. Currently, 0.8% of the shares of the company are sold short.

Arteris Trading Down 1.0 %

NASDAQ:AIP opened at $6.63 on Tuesday. The stock has a fifty day moving average price of $6.95 and a 200 day moving average price of $6.16. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. The firm has a market cap of $254.39 million, a PE ratio of -6.38 and a beta of 1.03. 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $11.90 million. Arteris had a negative return on equity of 150.71% and a negative net margin of 68.70%. Sell-side analysts anticipate that Arteris will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO K Charles Janac sold 10,103 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total value of $71,024.09. Following the sale, the chief executive officer now owns 318,644 shares in the company, valued at $2,240,067.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Arteris news, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 87,521 shares of the company’s stock, valued at $536,503.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO K Charles Janac sold 10,103 shares of Arteris stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $7.03, for a total value of $71,024.09. Following the transaction, the chief executive officer now owns 318,644 shares of the company’s stock, valued at approximately $2,240,067.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,264 shares of company stock valued at $558,958. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Arteris

Institutional investors and hedge funds have recently made changes to their positions in the business. Acuitas Investments LLC boosted its holdings in shares of Arteris by 150.3% in the fourth quarter. Acuitas Investments LLC now owns 215,991 shares of the company’s stock valued at $1,272,000 after acquiring an additional 129,692 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of 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 buying an additional 200,950 shares during the last quarter. Citigroup Inc. acquired a new stake in Arteris during the third quarter worth approximately $363,000. Ibex Investors LLC acquired a new position in Arteris in the third quarter valued at $99,000. Finally, Federated Hermes Inc. increased its stake in shares of Arteris by 8.3% during the 3rd quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock valued at $846,000 after acquiring an additional 10,000 shares during the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.