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

Arteris, Inc. (NASDAQ:AIP) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 188,200 shares, a drop of 16.2% from the March 31st total of 224,700 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 148,700 shares, the short-interest ratio is presently 1.3 days.

Insider Activity

In related news, CEO K Charles Janac sold 10,103 shares of the business’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 $71,024.09. Following the sale, the chief executive officer now directly owns 318,644 shares in the company, valued at $2,240,067.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Arteris news, CEO K Charles Janac sold 10,103 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $71,024.09. Following the completion of the transaction, the chief executive officer now owns 318,644 shares in the company, valued at approximately $2,240,067.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul L. Alpern sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $6.13, for a total value of $68,962.50. Following the sale, the vice president now directly owns 87,521 shares in the company, valued at $536,503.73. The disclosure for this sale can be found here. Insiders sold a total of 80,264 shares of company stock worth $558,958 over the last 90 days. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Arteris

Several hedge funds have recently bought and sold shares of the business. Acuitas Investments LLC boosted its stake in shares of Arteris by 150.3% during the fourth quarter. Acuitas Investments LLC now owns 215,991 shares of the company’s stock valued at $1,272,000 after purchasing an additional 129,692 shares during the period. Acadian Asset Management LLC lifted its holdings in Arteris by 120.1% during the 3rd quarter. Acadian Asset Management LLC now owns 368,220 shares of the company’s stock valued at $2,396,000 after buying an additional 200,950 shares in the last quarter. Citigroup Inc. purchased a new stake in Arteris in the 3rd quarter valued at about $363,000. Ibex Investors LLC bought a new position in Arteris in the 3rd quarter worth about $99,000. Finally, Federated Hermes Inc. grew its stake in Arteris by 8.3% in the 3rd quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock worth $846,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush restated an “outperform” rating and issued a $17.00 target price on shares of Arteris in a report on Tuesday, February 20th.

Arteris Price Performance

Arteris stock opened at $6.63 on Tuesday. Arteris has a 12-month low of $3.66 and a 12-month high of $8.08. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $6.95 and a 200-day moving average price of $6.16. The firm has a market capitalization of $254.39 million, a PE ratio of -6.38 and a beta of 1.03.

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

About Arteris

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.