Arteris, Inc. (NASDAQ:AIP) Short Interest Up 26.4% in June

Arteris, Inc. (NASDAQ:AIP) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 175,800 shares, an increase of 26.4% from the May 31st total of 139,100 shares. Based on an average trading volume of 162,300 shares, the short-interest ratio is presently 1.1 days. Currently, 0.8% of the shares of the company are short sold.

Arteris Price Performance

Shares of Arteris stock opened at $7.51 on Monday. The stock has a market cap of $288.98 million, a price-to-earnings ratio of -7.29 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average price of $7.78 and a 200-day moving average price of $6.93. Arteris has a one year low of $4.20 and a one year high of $9.54.

Arteris (NASDAQ:AIP) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. Arteris had a negative net margin of 69.70% and a negative return on equity of 198.35%. The company had revenue of $12.95 million during the quarter, compared to analyst estimates of $12.60 million. Equities analysts expect that Arteris will post -0.91 EPS for the current year.

Insiders Place Their Bets

In other news, Director Antonio J. Viana sold 26,919 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $7.85, for a total value of $211,314.15. Following the completion of the transaction, the director now owns 203,639 shares of the company’s stock, valued at $1,598,566.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Antonio J. Viana sold 26,919 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $7.85, for a total transaction of $211,314.15. Following the completion of the transaction, the director now owns 203,639 shares in the company, valued at $1,598,566.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nicholas B. Hawkins sold 10,000 shares of Arteris stock in a transaction on Monday, May 13th. The shares were sold at an average price of $8.01, for a total transaction of $80,100.00. Following the completion of the sale, the chief financial officer now owns 242,896 shares in the company, valued at $1,945,596.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,865 shares of company stock worth $745,081. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

Several institutional investors have recently added to or reduced their stakes in AIP. Barclays PLC purchased a new position in Arteris in the 3rd quarter worth about $120,000. 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 acquiring an additional 10,000 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Arteris in the third quarter valued at approximately $142,000. Worth Venture Partners LLC grew its stake in Arteris by 22.6% in the third quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock worth $334,000 after purchasing an additional 9,448 shares in the last quarter. Finally, Citigroup Inc. purchased a new position in Arteris during the 3rd quarter worth $363,000. Institutional investors own 64.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AIP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Arteris in a research note on Friday, May 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $9.00 price target (down previously from $11.00) on shares of Arteris in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.40.

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.