Arteris, Inc. (NASDAQ:AIP) Short Interest Down 14.8% in January

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

Analysts Set New Price Targets

Several brokerages have issued reports on AIP. Northland Securities set a $24.00 price objective on shares of Arteris in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arteris in a research note on Wednesday, January 21st. Jefferies Financial Group upgraded Arteris to a “hold” rating in a research note on Tuesday, October 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arteris in a report on Friday, February 13th. Finally, TD Cowen reissued a “buy” rating on shares of Arteris in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.17.

Arteris Trading Down 4.1%

Shares of Arteris stock opened at $14.02 on Wednesday. The company has a market cap of $637.49 million, a PE ratio of -17.10 and a beta of 1.47. The company has a 50 day moving average of $16.05 and a 200-day moving average of $13.38. Arteris has a 1-year low of $5.46 and a 1-year high of $19.85.

Arteris (NASDAQ:AIP) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $20.14 million during the quarter, compared to the consensus estimate of $18.55 million. Research analysts forecast that Arteris will post -0.73 earnings per share for the current year.

Insider Activity at Arteris

In other news, VP Paul L. Alpern sold 5,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $15.48, for a total value of $77,400.00. Following the transaction, the vice president directly owned 57,650 shares of the company’s stock, valued at $892,422. This represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO K Charles Janac sold 2,756 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $15.03, for a total transaction of $41,422.68. Following the sale, the chief executive officer owned 9,349,071 shares of the company’s stock, valued at approximately $140,516,537.13. This represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 689,072 shares of company stock worth $11,525,611. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Arteris

Several large investors have recently bought and sold shares of the business. Acuitas Investments LLC acquired a new stake in shares of Arteris during the 2nd quarter valued at $858,000. Worth Venture Partners LLC bought a new position in Arteris in the second quarter valued at about $451,000. Franklin Resources Inc. boosted its stake in shares of Arteris by 9.6% during the second quarter. Franklin Resources Inc. now owns 1,637,171 shares of the company’s stock valued at $15,602,000 after purchasing an additional 142,936 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Arteris during the second quarter worth about $254,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Arteris by 143.8% during the second quarter. Squarepoint Ops LLC now owns 120,957 shares of the company’s stock worth $1,153,000 after purchasing an additional 71,340 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

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.