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

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

Insider Activity at Arteris

In other Arteris news, CEO K Charles Janac sold 50,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $10.33, for a total value of $516,500.00. Following the transaction, the chief executive officer now directly owns 9,907,691 shares in the company, valued at approximately $102,346,448.03. This represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nicholas B. Hawkins sold 11,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $10.33, for a total transaction of $113,630.00. Following the sale, the chief financial officer now directly owns 154,308 shares in the company, valued at $1,594,001.64. This represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 360,046 shares of company stock valued at $3,767,475. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of Arteris

Several large investors have recently bought and sold shares of the company. State Street Corp boosted 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 valued at $3,170,000 after purchasing an additional 64,081 shares during the period. JPMorgan Chase & Co. boosted its position in Arteris by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,242 shares of the company’s stock valued at $712,000 after buying an additional 37,032 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Arteris by 6.6% during the third quarter. Geode Capital Management LLC now owns 597,116 shares of the company’s stock valued at $4,610,000 after acquiring an additional 36,908 shares in the last quarter. Barclays PLC increased its position in shares of Arteris by 321.1% during the third quarter. Barclays PLC now owns 39,396 shares of the company’s stock worth $304,000 after acquiring an additional 30,041 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Arteris in the third quarter worth about $226,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AIP. Northland Securities boosted their price target on Arteris from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Arteris in a research note on Tuesday, February 18th.

Arteris Stock Down 8.7 %

Shares of AIP opened at $8.31 on Tuesday. The firm has a market cap of $340.28 million, a PE ratio of -9.55 and a beta of 1.18. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $10.46 and its two-hundred day moving average is $8.83. Arteris has a fifty-two week low of $5.76 and a fifty-two week high of $12.64.

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