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

Arteris, Inc. (NASDAQ:AIP) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 188,200 shares, a decline of 16.2% from the March 31st total of 224,700 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 148,700 shares, the days-to-cover ratio is currently 1.3 days.

Insiders Place Their Bets

In related news, VP Paul L. Alpern sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.13, for a total transaction of $68,962.50. Following the transaction, the vice president now owns 87,521 shares in the company, valued at $536,503.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $6.13, for a total transaction of $68,962.50. Following the completion of the sale, the vice president now owns 87,521 shares in the company, valued at $536,503.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Laurent R. Moll sold 4,191 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total value of $29,462.73. Following the completion of the transaction, the chief operating officer now directly owns 588,887 shares in the company, valued at $4,139,875.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,264 shares of company stock valued at $558,958. 36.10% of the stock is owned by insiders.

Institutional Trading of Arteris

Several institutional investors have recently made changes to their positions in the business. Worth Venture Partners LLC boosted its stake in Arteris by 22.6% in the 3rd 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 during the period. Federated Hermes Inc. grew its stake in 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. Victory Capital Management Inc. purchased a new position in Arteris during the fourth quarter valued at $60,000. Ibex Investors LLC bought a new stake in Arteris in the 3rd quarter valued at $99,000. Finally, Barclays PLC bought a new position in shares of Arteris during the 3rd quarter valued at about $120,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.

Arteris Price Performance

NASDAQ AIP opened at $6.70 on Monday. The stock has a market cap of $257.08 million, a price-to-earnings ratio of -6.44 and a beta of 1.03. Arteris has a 12 month low of $3.66 and a 12 month high of $8.08. The company’s 50 day moving average is $6.97 and its two-hundred day moving average is $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.

Arteris (NASDAQ:AIP) last released its earnings results on Tuesday, February 20th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Arteris had a negative net margin of 68.70% and a negative return on equity of 150.71%. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $11.90 million. As a group, research analysts anticipate that Arteris will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reissued an “outperform” rating and set a $17.00 price objective 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.