Arteris, Inc. (NASDAQ:AIP) Sees Large Decrease in Short Interest

Arteris, Inc. (NASDAQ:AIP) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 1,134,548 shares, a drop of 14.8% from the January 15th total of 1,331,050 shares. Based on an average daily volume of 453,470 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.9% of the shares of the stock are sold short. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily volume of 453,470 shares, the days-to-cover ratio is currently 2.5 days.

Insider Buying and Selling

In other Arteris news, major shareholder Bayview Legacy, Llc sold 70,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.71, for a total transaction of $1,239,700.00. Following the transaction, the insider owned 9,469,071 shares of the company’s stock, valued at approximately $167,697,247.41. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO K Charles Janac sold 70,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.71, for a total value of $1,239,700.00. Following the completion of the sale, the chief executive officer directly owned 9,469,071 shares of the company’s stock, valued at $167,697,247.41. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 689,072 shares of company stock worth $11,525,611. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arteris

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Arteris during the first quarter worth about $1,621,000. Strs Ohio purchased a new stake in Arteris during the 1st quarter worth approximately $104,000. Acuitas Investments LLC acquired a new stake in Arteris during the 2nd quarter worth approximately $858,000. AlphaQuest LLC lifted its holdings in Arteris by 65.1% during the 2nd quarter. AlphaQuest LLC now owns 64,504 shares of the company’s stock worth $615,000 after buying an additional 25,426 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in Arteris in the 2nd quarter valued at approximately $97,000. 64.36% of the stock is owned by institutional investors and hedge funds.

Arteris Stock Performance

Arteris stock opened at $14.62 on Tuesday. The company has a market capitalization of $664.77 million, a PE ratio of -17.83 and a beta of 1.48. Arteris has a fifty-two week low of $5.46 and a fifty-two week high of $19.85. The firm has a 50 day moving average price of $16.15 and a 200 day moving average price of $13.34.

Arteris (NASDAQ:AIP) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $20.14 million for the quarter, compared to analysts’ expectations of $18.55 million. As a group, equities research analysts forecast that Arteris will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AIP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Arteris in a research report on Wednesday, November 5th. Northland Securities set a $24.00 price objective on Arteris in a report on Friday. Jefferies Financial Group raised Arteris to a “hold” rating in a research note on Tuesday, October 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Arteris in a research report on Friday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.17.

Arteris Company Profile

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.