Arteris, Inc. (NASDAQ:AIP) Sees Significant Decline in Short Interest

Arteris, Inc. (NASDAQ:AIP) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 666,000 shares, a decline of 19.8% from the August 31st total of 830,300 shares. Based on an average daily trading volume, of 207,300 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.8% of the shares of the stock are short sold.

Arteris Stock Performance

NASDAQ:AIP opened at $7.66 on Friday. The stock’s 50-day moving average is $7.69 and its 200-day moving average is $7.60. The stock has a market cap of $294.75 million, a P/E ratio of -7.44 and a beta of 1.12. Arteris has a 1-year low of $4.20 and a 1-year high of $9.54. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17.

Arteris (NASDAQ:AIP) last announced its earnings results on Thursday, August 1st. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). Arteris had a negative net margin of 68.37% and a negative return on equity of 274.66%. The company had revenue of $14.58 million during the quarter, compared to the consensus estimate of $13.68 million. During the same quarter in the previous year, the company earned ($0.25) earnings per share. Equities research analysts anticipate that Arteris will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other Arteris news, Director Wayne C. Cantwell sold 15,000 shares of Arteris stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.95, for a total transaction of $104,250.00. Following the transaction, the director now owns 243,198 shares of the company’s stock, valued at approximately $1,690,226.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Laurent R. Moll sold 30,860 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $6.95, for a total value of $214,477.00. Following the sale, the chief operating officer now directly owns 501,120 shares in the company, valued at approximately $3,482,784. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wayne C. Cantwell sold 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.95, for a total transaction of $104,250.00. Following the completion of the transaction, the director now owns 243,198 shares in the company, valued at $1,690,226.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,753 shares of company stock worth $1,049,619. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arteris

A number of large investors have recently bought and sold shares of AIP. Victory Capital Management Inc. acquired a new stake in Arteris in the fourth quarter valued at approximately $60,000. The Manufacturers Life Insurance Company bought a new stake in Arteris during the 2nd quarter valued at $86,000. Algert Global LLC bought a new stake in Arteris during the 2nd quarter valued at $115,000. Rhumbline Advisers lifted its stake in shares of Arteris by 2,182.8% in the second quarter. Rhumbline Advisers now owns 31,822 shares of the company’s stock valued at $239,000 after buying an additional 30,428 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Arteris during the second quarter valued at about $554,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on AIP shares. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Arteris in a research report on Monday, August 5th. Westpark Capital reiterated a “buy” rating and set a $11.00 target price on shares of Arteris in a report on Wednesday, July 31st.

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.