Short Interest in Arteris, Inc. (NASDAQ:AIP) Expands By 11.0%

Arteris, Inc. (NASDAQ:AIPGet Rating) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 422,300 shares, an increase of 11.0% from the August 15th total of 380,600 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 93,700 shares, the short-interest ratio is presently 4.5 days.

Arteris Stock Down 1.6 %

AIP opened at $7.46 on Monday. The firm has a 50-day simple moving average of $7.83 and a two-hundred day simple moving average of $9.71. Arteris has a 52 week low of $6.57 and a 52 week high of $27.57. The company has a market capitalization of $243.82 million and a PE ratio of -8.20. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.01.

Arteris (NASDAQ:AIPGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.05. Arteris had a negative net margin of 53.75% and a negative return on equity of 78.89%. Analysts forecast that Arteris will post -0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Rosenblatt Securities dropped their target price on shares of Arteris from $35.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Arteris has an average rating of “Moderate Buy” and an average price target of $22.33.

Insider Buying and Selling at Arteris

In other news, Director Antonio J. Viana sold 6,250 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $8.08, for a total value of $50,500.00. Following the completion of the sale, the director now directly owns 215,215 shares in the company, valued at approximately $1,738,937.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Laurent R. Moll sold 9,125 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $7.26, for a total value of $66,247.50. Following the completion of the transaction, the chief operating officer now owns 528,836 shares of the company’s stock, valued at approximately $3,839,349.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Antonio J. Viana sold 6,250 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $8.08, for a total transaction of $50,500.00. Following the completion of the transaction, the director now directly owns 215,215 shares of the company’s stock, valued at approximately $1,738,937.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,392 shares of company stock worth $278,079. Insiders own 48.27% of the company’s stock.

Institutional Trading of Arteris

Several hedge funds have recently made changes to their positions in AIP. Franklin Resources Inc. raised its position in Arteris by 6.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,067,223 shares of the company’s stock worth $7,438,000 after purchasing an additional 67,223 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in Arteris by 5.8% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 835,261 shares of the company’s stock worth $10,858,000 after purchasing an additional 46,135 shares during the period. Summit Partners Public Asset Management LLC raised its position in Arteris by 6.6% in the 1st quarter. Summit Partners Public Asset Management LLC now owns 778,027 shares of the company’s stock worth $10,114,000 after purchasing an additional 48,428 shares during the period. Lord Abbett & CO. LLC raised its position in Arteris by 29.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 677,617 shares of the company’s stock worth $8,809,000 after purchasing an additional 156,052 shares during the period. Finally, G2 Investment Partners Management LLC raised its position in Arteris by 61.2% in the 1st quarter. G2 Investment Partners Management LLC now owns 543,473 shares of the company’s stock worth $7,065,000 after purchasing an additional 206,374 shares during the period. 22.97% of the stock is currently owned by hedge funds and other institutional investors.

About Arteris

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Arteris, Inc provides semiconductor interconnect intellectual property (IP) and IP deployment solutions 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 System-on-Chip (Soc) designs and Network-on-Chip (NoC) interconnect IP.

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